- Hyundai has lowered pricing on the Ioniq 5 by up to $9,800.
- The EV now starts at $35,000, which is down from $42,600.
- Despite being cheaper, it also gains a dual-level charging cable.
The clean vehicle tax credit expired yesterday and Hyundai isn’t wasting any time as they’ve lowered Ioniq 5 pricing by an average of $9,155. That’s a huge drop and the entry-level model now begins at $35,000, which is $7,600 less than last year’s model.
Buyers looking for more power and range can upgrade to the Ioniq 5 SE, which begins at $37,500. That’s down $9,150 from last year’s starting price of $46,650.
More: Hyundai’s American-Made Ioniq 5 Costs More But Goes The Extra Mile
The biggest decline can be found on the well-equipped SEL trims, which cost $39,800 with rear-wheel drive and $43,300 with all-wheel drive. Both variants are a staggering $9,800 less than their predecessors.
Hyundai said they’re repositioning the model to “better align with current market dynamics and support increased U.S. production volume.” They added the changes come as “part of a broader strategy to maintain the Ioniq brand’s leadership in the electric vehicle space while responding to shifting consumer expectations and competitive pressures.”
Despite the significant price cuts, Hyundai appears to have avoided removing equipment to lower costs. In fact, they added a dual-level charging cable.
Additional changes are limited, but there’s a new Sage Silver Matte paint job. Cosmic Blue Pearl and Vibrant Ultimate Red have also been extended to all trims.
While Hyundai didn’t mention the tax credit, they’re offering a $7,500 incentive for customers who purchase or lease a 2025 model. However, you might be better off waiting for the 2026 Ioniq 5, unless there are some serious discounts on top of that.
Hyundai Ioniq 5 Pricing
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Prices exclude a $1,600 destination fee
