1. Market Analysis: The EV Landscape (Jan 2026)
📜 Policy & Tax Incentives
- FBT Exemption: Safe for BEVs under $91,387 (LCT Threshold).
- PHEVs: Exemption ended April 2025; BEVs are now the primary lease play.
- 2025 Milestone: Electrified vehicles (BEV/Hybrid) officially overtook ICE cars in the Medium SUV segment (52% market share).
🇨🇳 Market Competition
- Price War: Chinese brands forcing legacy Euro/Korean brands to discount MY25 stock.
- Model Influx: High-performance entrants (Kia EV9 GT, Zeekr 7X) putting pressure on LCT caps.
🏆 2025 Best Sellers (Mid-Size SUV)
- Tesla Model Y: Still the dominant market leader.
- BYD Sealion 7: Rapidly claimed 2nd place.
- Kia EV5: Strong growth in Q3/Q4.
🔌 Infrastructure & Tech
- Charging Stations: ~1,300+ locations / 4,200+ plugs nationwide.
- NSW Growth: Over 1,000 public chargers active; government target of 30,000 by end of 2026.
- Tesla Opening Up: Supercharger network fully open.
- 800V vs 400V: Bifurcation between ultra-fast (Zeekr/Kia) vs standard (BMW/Tesla).
2. Test Drive Results & Not preferred
✅ Shortlisted After Testing
- BMW iX1 xDrive30: Benchmark driving dynamics. Premium feel. Best-in-class steering & handling.
- Zeekr 7X Performance: Strongest overall "car" feel. Excellent air suspension. 800V architecture.
⏳ Pending Test Drive
- Skoda Enyaq RS: The "Goldilocks" candidate. Bridge between BMW dynamics and Zeekr size. Test drive scheduled.
- Audi Q4 e-tron: Premium Euro entry under the LCT threshold ($84,900).
- XPeng G6: Tech-heavy challenger to Model Y with strong value ($54,800).
- MG IM6 Performance: High-performance spec ($80,990) to be evaluated for "feel".
❌ Not preferred
| Model | Reason |
|---|---|
| Tesla Model Y | "Computer game" feel. No instrument cluster. Seats uncomfortable. Brand disconnect. |
| BYD Sealion 7 | Suspension too "floaty" and disconnected. Software failure. Clunky UI. |
| Kia EV5 | Felt "cheap" initially. Lower quality materials vs Zeekr/BMW. |
3. Current Shortlist: The Top Contenders
Zeekr 7X Performance
~$72,900 + ORC | 0-100: 3.8s | 616L Boot
✅ Pros
- 800V architecture (ultra-fast charging)
- Extremely comfortable and great to drive
- Large "mid-sized" SUV, plenty of space
- High towing capacity
- Great backseat experience
- Fits in garage
❌ Cons
- Chinese brand (owned by Geely who owns Polestar and Volvo)
- Resale value is risky
- After sales service and parts availability unknown (just launched)
- Screen UI not as nice as Tesla
- Accessories not yet ADR approved (March '26)
- Not yet officially on sale (pre-orders only)
BMW iX1 xDrive30
~$79,000 (Fleet) | 0-100: 5.6s | 490L Boot
✅ Pros
- Beautiful car to drive
- Very comfortable
- Neat but basic Screen UI
- Best looking car in my opinion
- Very high build quality
- Established brand after sales service
❌ Cons
- Compact SUV (not a mid-sized SUV)
- No standard tow bar (needs aftermarket kit)
- Not much storage for long trips
4. Pending Models (1/2)
Skoda Enyaq RS
- Price: Est. $75k-$85k (Q2 2026)
- Why: "Goldilocks" size/dynamics.
- Key Spec: 5.4s (0-100), 585L Boot.
- Next Step: Test drive for 'punch' and comfort.
Audi Q4 e-tron
- Price: ~$84,900 + ORC
- Why: Premium Euro entry under LCT.
- Key Spec: Solid range, classic interior.
- Next Step: Evaluate dealer stock/demos.
5. Pending Models (2/2)
XPeng G6 Performance AWD
- Price: ~$69,000 + ORC (Q1 2026 launch)
- Why: High-performance tech challenger.
- Key Spec: 358kW/660Nm, 4.1s (0-100), 280kW charging.
- Next Step: Test drive when available (Q1 '26).
MG IM6 Performance
- Price: ~$80,990 + ORC
- Why: High performance for price.
- Key Spec: <3.8s (0-100), Luxury interior.
- Next Step: Test drive for driving dynamics.
6. Financial Comparison
💰 Novated Lease Comparison (Updated)
Based on: $350k income, 10,000km/year, 60-month term, 7.34% interest rate, $0.36/kWh energy costs
| Vehicle | Drive-Away | Monthly Net Pay | 5-Year TCO | Residual | Residual Risk |
|---|---|---|---|---|---|
| ✅ SHORTLISTED | |||||
| Zeekr 7X Performance | $75,900 | $827/mo | $70,969 | $21,349 | High |
| BMW iX1 xDrive30 | $86,800 | $928/mo | $80,097 | $24,417 | Low |
| ⏳ PENDING TEST DRIVES | |||||
| Skoda Enyaq RS | $80,000 | $867/mo | $74,524 | $22,504 | Medium |
| Audi Q4 e-tron | $87,900 | $942/mo | $81,246 | $24,726 | Low |
| XPeng G6 Performance AWD | $72,000 | $791/mo | $67,714 | $20,254 | High |
| MG IM6 Performance | $83,990 | $896/mo | $77,390 | $23,630 | High |
| 🃏 WILDCARD | |||||
| BMW iX3 M Sport (2024 Used) | $77,500 | $844/mo | $72,441 | $21,801 | Low |
All vehicles are FBT exempt (BEVs under $91,387 LCT threshold). TCO = Total Cost of Ownership over 5 years including residual payment.
7. Wildcard (1/2): Financial Value
💰 The Advantage: Avoid Depreciation
🎯 Save ~$15,000 instantly
Avoid the steep depreciation hit of Years 1-2 by being the second owner.
| Scenario | Purchase Price | Depreciation (Yr 1-2) |
|---|---|---|
| New BMW iX1 | $86,800 | -$17,000 |
| Used iX3 (2024) | $75k-$80k | -$7k (Stable) |
Net Benefit: Save $5k-$10k in depreciation alone!
View Listing
8. Wildcard (2/2): Practicality vs iX1
📊 Spec Comparison
| Feature | Used iX3 ('24) | New iX1 ('25) |
|---|---|---|
| Total Length | 4734mm (+234mm) | 4500mm |
| Wheelbase | 2864mm (+172mm) | 2692mm |
| Width / Height | 1891mm / 1668mm | 1845mm / 1616mm |
| Rear Legroom | Proper Executive | Compact (Tight for 3) |
| Boot Space | 510L (Deep & Wide) | 490L (Tall & Narrow) |
📏 The Space Advantage
- Rear Legroom: The +172mm wheelbase difference is critical for growing teenagers.
- Ride Quality: Larger wheelbase = smoother, more stable ride on highways.
- Standard Kit: iX3 M Sport comes fully loaded (inc. Roof Rails).
✅ Verdict: The iX3 is a "class above" the iX1 for a lower entry price.
9. Immediate Next Steps
-
1. Execute Test Drives:
Schedule and complete drives for Skoda Enyaq RS, Audi Q4 e-tron, XPeng G6, and MG IM6 Performance. -
2. Cupra Repair & Sale:
Repair damaged panel on current vehicle. Get quote for sale back to SG Fleet. -
3. Final Selection:
Compare results against Zeekr 7X (Wait) vs. BMW iX1 (Space compromise) vs. Wildcard iX3.