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.
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“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.
The Cupra Formentor VZe – or e-Hybrid in some markets – is powered by a 1.4-litre turbocharged plug-in hybrid (PHEV) system that locally is only available in its highest state of tune (180kW/400Nm).
Driving the front wheels via a six-speed dual-clutch automatic with paddle shifters, the Formentor VZe can accelerate from 0-100km/h in 7.0 seconds, and offers “around 50km” of EV driving range per charge of its 10.9kWh (net) li-ion battery. Fuel consumption is listed at 1.9L/100km on the combined cycle.
Key equipment highlights include LED headlights; a power tailgate; 12-inch touchscreen infotainment system with navigation and wireless Apple CarPlay and Android Auto; DAB radio; and a heated steering wheel. 19-inch alloy wheels and adaptive damping also come standard.
The Leather and Camera Package adds Nappa leather upholstery with a power driver’s seat and heated front seats.
While billed as a response to FBT incentives being cut off to new PHEV buyers, part of Cupra’s campaign will also be to clear stocks of the pre-facelift Formentor ahead of an updated model arriving in 2026.
In addition to the revised looks, the 2026 Cupra Formentor is due to get updated engines, including a more powerful 200kW PHEV model that will offer over 100km of EV range from a larger 25.8kWh (gross) lithium battery pack.
Despite its advancing age, the pre-update Formentor has actually seen a sales increase in 2025, currently up 38.6 per cent year to date to 31 August 2025 with 1013 new units registered.
It remains the top-selling model in Cupra’s Australian lineup, well ahead of the second-placed (and now temporarily sold out) Cupra Born electric hatchback (313 units, up 5.4 per cent).