McMillan Shakespeare deepens BYD leasing ties in Australia

McMillan Shakespeare Group is expanding its digital automotive and novated leasing partnerships in Australia, with a direct relationship with BYD forming part of that push.

Its dealer platform links vehicle manufacturers, dealer networks, finance providers and customers through its novated leasing businesses Maxxia, RemServ and Oly. The system is designed to help dealers identify novated leasing opportunities, refer customers and track transactions, while giving manufacturing partners greater visibility over customer demand and dealer activity.

The move comes as novated leasing gains ground as a path to vehicle ownership, particularly for electric vehicles. Demand has been supported by the Federal Government's Electric Car Discount, shifting customer preferences and a stronger focus on lowering ownership costs.

The arrangement with BYD was recently formalised during a visit to the Chinese carmaker's headquarters. It covers demand generation, customer acquisition, dealer engagement, digital integration and ownership solutions for the Australian market.

The agreement also extends to DENZA, BYD's premium new energy vehicle brand. MMS has been appointed a strategic leasing partner to support DENZA's entry into the Australian small and medium-sized enterprise market through Oly.

Antonia Albanese, Chief Customer Officer at McMillan Shakespeare Group, said the company sees itself as a link between carmakers, dealers and buyers as novated leasing becomes more widely used.

"MMS is building the connective tissue between OEMs, dealers and customers at a time when novated leasing is rapidly becoming a mainstream vehicle ownership channel," Albanese said.

"Our digital-first platform helps dealers participate more easily, helps OEMs reach high-intent customers, and helps Australians access greater vehicle choice, value and affordability through novated leasing."

Beyond BYD and DENZA, MMS is working with manufacturers including GWM, MG Motor, Polestar and Tesla. It also highlighted finance ties with Volkswagen Financial Services Australia, covering brands including Volkswagen, Audi, Škoda and CUPRA.

Growth figures

MMS said its FY26 results showed 90,000 novated leases, up 13.5%, while group novated lease sales rose 8.4%. New battery electric vehicle sales increased 113%, and battery electric vehicles accounted for 61% of all new novated lease sales during the year.

The company also reported a 42% increase in users of its dealer platform and said internal benchmarking showed new novated sales growth outpaced the broader market in the second half of FY26.

That performance coincides with broader changes in the Australian EV market. MMS said BYD has overtaken Tesla as Australia's largest EV brand by volume in 2026, underscoring the pace of change among suppliers competing for market share.

Industry data cited by MMS suggests tax policy has played a meaningful role in that shift. The National Automotive Leasing and Salary Packaging Association estimates the Electric Car Discount has helped put more than 100,000 EVs on Australian roads, with battery electric vehicle market share rising from 1.7% in 2021 to 8.7% in 2025.

Partner model

MMS said its approach differs from a standard finance referral model because it works directly with carmakers and dealers across customer acquisition, dealer activation and transaction management. That gives manufacturers a route into employer networks and salary packaging channels as they seek to broaden distribution.

For dealers, the appeal lies in a simpler process for handling novated leasing enquiries without relying on separate systems. For manufacturers, it offers a way to connect marketing activity with dealer engagement and financing options through one channel.

Albanese said BYD reflects the direction of the market and the role MMS wants to play in it.

"BYD is one of the clearest examples of how the automotive market is changing," she said.

"Its growth reflects the shift toward new energy vehicles, and our partnership gives MMS an important role in helping more customers access that technology through a simpler, digital-first novated leasing experience."

Wing You, General Manager of BYD Australia, said the arrangement creates another pathway for Australian buyers to access the brand's vehicles.

"BYD is committed to making innovative, high-quality new energy vehicles available for all Australians," You said.

"Our partnership with MMS creates another important pathway for customers to access BYD vehicles through novated leasing, supported by a seamless ownership experience and strong customer education."

MMS said carmakers increasingly want partners that can support customer demand, dealer networks and financing together rather than offer finance alone.

"Automotive manufacturers are increasingly looking for partners who can do more than simply provide finance," Albanese said.

"They want partners capable of generating demand, supporting dealer networks, improving customer experiences and accelerating growth. That is exactly where MMS is uniquely positioned.

"By bringing together OEMs, dealer networks, financing solutions and digital capability within a single ecosystem, we are helping automotive brands grow while delivering greater choice, convenience and value for Australian customers."