The Tesla Model Y has been named the 2026 Fleet News Group Novated Lease Car of the Year, after emerging as the most popular vehicle among novated lease customers represented by NALSPA members.
The award was determined by actual novated lease volumes rather than a judging score or public vote, giving the result a direct connection to what Australian employees are choosing when selecting a vehicle through salary packaging.
The Model Y secured the win ahead of fellow finalists the BYD Sealion 7 and Zeekr 7X.
Popularity backed by real leasing data
The Novated Lease Car of the Year is designed to reflect market behaviour rather than expert opinion.
While other Fleet News Group vehicle awards assess finalists against criteria such as whole-of-life cost, safety, sustainability, ergonomics and fleet suitability, this category looks at something simpler: which vehicle is actually being selected most often.
That makes the Tesla Model Y’s win an important indicator of current demand in the novated leasing market.
For employers, leasing providers and vehicle manufacturers, the result also highlights how influential novated leasing has become as a pathway into new vehicles, particularly battery electric vehicles.
EVs dominate the finalist field
All three finalists in the 2026 category were battery electric vehicles.
The Tesla Model Y, BYD Sealion 7 and Zeekr 7X represent a new generation of electric SUVs competing for buyers who increasingly see novated leasing as a practical way to access an EV.
The strength of EVs in the category also reflects the impact of the Electric Car Discount and the Fringe Benefits Tax exemption available for eligible electric vehicles.
These settings have helped change the economics of novated leasing and have played a major role in increasing EV uptake through salary packaging.
A different kind of Car of the Year award
Fleet News Group’s Novated Lease Car of the Year stands apart because the winner is effectively decided by customers.
There are no test-track scores and no panel deciding which vehicle should win.
Instead, the award recognises the vehicle that attracted the highest number of novated leases through participating NALSPA members.
That makes the result a useful snapshot of where customer demand is heading and which vehicles are succeeding in a highly competitive part of the Australian new vehicle market.
For 2026, the strongest performer was the Tesla Model Y.
