Smartgroup has identified corporate fleet management as a significant growth opportunity after increasing the number of fleet-managed vehicles by 12% over the past year.
The company reported 36,200 fleet-managed vehicles at the end of June 2026, up 3,800 from 32,400 at the same time last year. Smartgroup had 30,600 fleet-managed vehicles at H1 2024.
The result means Smartgroup has added 5,600 fleet-managed vehicles over the past two years, an increase of approximately 18%.
Fleet becomes a strategic growth area
While novated leasing remains a major part of Smartgroup’s business, the company has signalled that fleet will receive further investment.
Smartgroup Managing Director and CEO Scott Wharton said:
“Fleet presents a significant growth opportunity for the Group, and we are continuing to invest in capability, customer relationships and distribution to support future expansion.”
The company’s strategic priorities include targeted investment in fleet capabilities, with a focus on supporting demand for tailored products and expanding its fleet funding offering.
During the first half of 2026, Smartgroup said it had reshaped its fleet operating model, added capabilities and invested to support future growth.
Volkswagen Financial Services partnership expands
Smartgroup also expanded its partnership with Volkswagen Financial Services during the half.
According to the company, the partnership supports a capital-light fleet model combining Smartgroup’s fleet management capability with third-party vehicle funding.
Smartgroup said the structure was designed to support growth while allowing the business to service a broader range of customer fleet requirements.
The company’s investor presentation indicates that future direct funding of motor vehicles by Smartgroup will reduce in line with its fleet strategy.
For fleet customers, that makes the funding strategy an important part of Smartgroup’s expansion plans, as the company looks to grow vehicles under management without relying solely on its own balance sheet to fund those assets.
Fleet growth sits alongside strong group performance
The expanding fleet portfolio formed part of a broader period of growth for Smartgroup.
Revenue increased 13% to $179.5 million in H1 2026, while Operating EBITDA increased 16% to $73.8 million. NPATA rose 11% to $42.4 million.
The company also reported 518,000 active salary packaging customers and 91,600 novated leases under management at June 2026.
Smartgroup said its strategy is increasingly linking salary packaging, novated leasing, fleet management and automotive partnerships.
Its results announcement stated that its novated leasing, fleet management and strategic partnerships strengthen its position across integrated mobility services in Australia.
Looking ahead, Smartgroup said it plans to continue expanding its fleet offering and increasing vehicles under management through external funding.
For Fleet Managers and Procurement Managers, the 12% increase in managed vehicles is significant because it shows Smartgroup’s growth strategy is extending beyond salary packaging and novated leasing, with corporate fleet becoming a more explicit area for investment and expansion.
