Tesla Model Y Crowned 2026 Novated Lease Car of the Year

Australian workers salary packaging their next vehicle continue to show a massive appetite for electric SUVs, with the Tesla Model Y taking out the 2026 Novated Lease Car of the Year award.

Organised by Fleet News Group in partnership with the National Automotive Leasing and Salary Packaging Association (NALSPA), the annual recognition differs from traditional motoring awards decided by journalists or industry judging panels. Instead, the result is determined purely by actual vehicle uptake across NALSPA member providers, whose networks manage and facilitate more than 200,000 salary-packaged cars across Australia.

Real employee demand shapes the podium

Because the award reflects real delivery figures rather than panel votes, it offers a direct window into what Australian employees choose when spending their own salary.

For 2026, the Tesla Model Y secured the top spot after recording the highest total lease volume. It outpaced fellow finalists including the BYD Sealion 7 and the Zeekr 7X. Notably, all three finalists were all-electric models, demonstrating how dominant battery-electric power has become within the novated leasing space.

While established commercial vehicles and dual-cab utes continue to hold major sway across traditional business fleets, novated leasing allows everyday commuters to select vehicles tailored to their family and lifestyle needs. The combination of spacious mid-size SUV designs, mature public charging support, and high fuel savings has kept models like the Model Y at the forefront of worker preferences.

What this means for your novated lease

If you are currently evaluating your options for a salary-packaged vehicle, this market data highlights several practical considerations:

• FBT savings remain the primary catalyst: Battery-electric cars priced below the luxury car tax threshold for fuel-efficient vehicles ($91,661 for 2026–27) remain entirely free of fringe benefits tax. This tax exemption allows drivers to bundle vehicle finance and running costs into pre-tax earnings, significantly reducing out-of-pocket expenses compared to purchasing privately or financing a petrol car.
• Expanding competition gives you leverage: While Tesla retains the volume crown, the presence of contenders like BYD and Zeekr on the podium shows that alternatives are gaining substantial traction. Greater manufacturer choice means more competitive drive-away pricing, shorter delivery wait times, and attractive feature packages across the mid-size electric segment.
• Strong resale and leasing support: Models that achieve high novated leasing volume typically benefit from established residual value benchmarks, widely available servicing options, and familiar administration processes among leasing providers.
• Remember independent advice: Tax rules around salary packaging depend on your personal income level and circumstances. Always check figures with your employer and seek independent tax advice before entering a long-term financial commitment.