BYD Australia partners with Smart on novated leases

BYD Australia has partnered with salary packaging provider Smart to offer novated leases at BYD dealerships, giving access to more than 2.5 million Australian workers employed by Smart client organisations.

Under the agreement, eligible customers will be able to arrange a novated lease when buying a BYD or DENZA vehicle at the point of sale. The model wraps costs including servicing, tyres, registration, insurance and fuel into a regular payment deducted from pre-tax salary.

The deal links one of Australia's fastest-growing car brands with the country's largest salary packaging and novated leasing provider. Smart supports more than 580,000 salary packaging customers and manages more than 120,000 novated lease and fleet vehicles.

For car buyers, the partnership is intended to make it easier to assess whether an electric vehicle stacks up financially. Eligible customers will also be able to access tax savings through the federal government's electric car discount.

Electric vehicle uptake has risen in Australia, giving carmakers and finance providers a stronger incentive to simplify purchasing. Official VFACTS figures cited by the companies show battery electric vehicles accounted for 23 per cent of the new vehicle market in June.

BYD's expansion in Australia has been marked by a sharp increase in sales. Year-to-date sales to the end of June reached 52,335 vehicles, more than double the level recorded at the same point a year earlier, according to figures provided by the company.

It also posted a record monthly result in June and came close to becoming Australia's top-selling automotive brand for the month. That performance has added momentum to efforts to broaden how customers can finance and run electric vehicles.

Point-of-sale access

The partnership brings salary packaging into the purchase process earlier for dealership staff and buyers. That matters in novated leasing because the structure depends on employment arrangements, tax treatment and bundled running costs, which can be harder for consumers to compare with a standard car loan or outright purchase.

In practical terms, the arrangement creates a direct sales channel from BYD dealerships into Smart's salary packaging system. Smart's client base spans government, healthcare, education, corporate and not-for-profit employers, giving the provider a broad pool of potential customers who may be eligible for novated leasing.

Wing You outlined BYD's view of the move.

"As BYD continues to grow in Australia, we are focused on making new energy vehicle ownership as simple and accessible as possible for our customers," said Wing You, General Manager, BYD Australia.

"Partnering with Smart allows us to integrate novated leasing support into the dealership experience, helping customers understand affordability, savings and ownership options at the point of sale," You said.

Salary packaging push

For Smart, the agreement expands its reach in a market that has become more visible as EV adoption increases and tax settings favour eligible electric vehicles. Novated leasing has long been used in fleet and salary packaging markets, but EV incentives have pushed it further into mainstream consumer decisions.

Sid Jha said the partnership was designed to remove barriers in the buying process.

"This partnership brings together two market leaders with a shared ambition to accelerate Australia's transition to electric vehicles. BYD has transformed the Australian market by making EVs more accessible, and Smart can now help remove another major barrier by integrating novated leasing into the customer journey," said Sid Jha, Group Executive, Novated Leasing and Electric Vehicle Services, Smart.

"Smart reaches more than 2.5 million Australians through employers nationally. By integrating salary packaging into the BYD customer journey, we can remove friction at a critical point in the purchase process and give customers a clearer view of cost, savings and ownership options before they make a decision," Jha said.

"For eligible Australians, this is about making EV ownership more attainable, not simply offering another way to finance a car. We can help customers understand whether a BYD through a Smart novated lease works for them, compare the cost of owning and running an EV, and give them the confidence to make the switch to electric," he said.