Cupra Australia is advertising a very sharp run-out offer for the plug-in hybridFormentor VZe, which is now priced from $47,990 drive-away while stocks last.

The special offer works out to more than $20,000 in savings over previous recommended retail pricing, given the VZe usually starts from $64,990 before on-road costs. Even better, the $47,990 sticker also includes the Leather and Camera Package ($2800) as well as a panoramic sunroof ($2150) as standard equipment.

Only premium metallic paint ($490) requires extra spend, though the online stock locator is showing Formentor VZe models with no sunroof and leather pack from as little as $43,040 drive-away at the time of writing.

CarExpert can save you thousands on a new car. Click here to get a great deal.

“On 1 April 2025, the federal government’s Fringe Benefits Tax (FBT) exemption came to an end, and in response Cupra has introduced its own Cupra e-Hybrid Subsidy for the Formentor VZe – a nationwide drive-away offer designed to support customers during this transition,” Cupra Australia says in its media release.

“While not a direct replacement for the government’s FBT exemption, this initiative reflects Cupra’s commitment to keeping electrified mobility accessible, especially as PHEVs continue to grow in popularity across the range.”

Cupra’s communications also notes the Formentor’s European design, engineering and manufacturing, likely a reference to this PHEV price segment being dominated by Chinese-branded and -manufactured PHEVs.

According to Cupra Australia’s online stock tool, there are currently over 400 Formentor VZe units available at the time of writing subject to this “while stocks last” offer. It’s also worth noting this is applicable to ‘MY24’ plated vehicles.