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← Newsroom/EVs & hybrids

Why Hyundai is getting serious about novated leasing for electric cars

Compiled by ADME Newsroom from 1 source

First reported by Fleet Auto News · 14 September at 3:09 pm

Who's covering this — 1 article

Industry trade
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Image: Fleet Auto News

The quick read

Full coverage

Fleet Auto News·Industry trade·14 September at 3:09 pm

Why Hyundai is getting serious about novated leasing for electric cars

Novated leasing is becoming an increasingly important part of the Australian electric vehicle market, and Hyundai Australia is adjusting its fleet strategy to reflect the change. The company has…

Read at Fleet Auto News →

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The quick read

  • Hyundai Australia is adjusting its fleet strategy to reflect the growing importance of novated leasing in the Australian electric vehicle market.
  • Novated leasing is becoming an increasingly important part of the Australian electric vehicle market.
  • Hyundai's shift towards novated leasing will require dealers to adapt their sales processes to better cater to the needs of fleet and corporate buyers.
  • Dealers will need to work closely with Hyundai to ensure they have the right mix of EV models in stock to meet the demand from novated leasing customers.

For dealers: Australian dealers need to be prepared to adapt their sales processes and stock mix to meet the growing demand for novated leasing of electric cars.

AI-assisted summary of the coverage below — check the original reporting before relying on specifics.

ADME commentary

The ADME angle

Hyundai's shift towards novated leasing for electric cars will directly impact the sales mix of Australian dealers, with a greater proportion of EV sales likely to come from fleet and corporate buyers.

This change in strategy will require dealers to adapt their sales processes to better cater to the needs of these buyers, who often have different priorities and requirements than private buyers.

What it means for the order bank

Dealers will need to work closely with Hyundai to ensure they have the right mix of EV models in stock to meet the demand from novated leasing customers, who may require specific configurations and options.

The increased focus on novated leasing will also require dealers to develop stronger relationships with local businesses and fleet managers, who will be key decision-makers in the EV purchasing process.

Pricing and margin implications

As novated leasing becomes a larger part of the EV market, dealers will need to be mindful of the pricing and margin implications, as fleet and corporate buyers often have more negotiating power than private buyers.

Dealers will need to balance the need to be competitive on price with the need to maintain profitable margins, which may require them to explore new revenue streams and cost-saving opportunities.

Taking action

This week, dealers can start by reviewing their current sales processes and identifying areas where they can improve their support for novated leasing customers, such as by providing more detailed information on EV models and their suitability for fleet use.

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