- Hyundai has cut the price of its Ioniq 5 SUV by up to $9,800, depending on the model
- The move helps offset the loss of the federal government’s $7,500 EV tax credit
The Hyundai Ioniq 5 is one of our favorite electric vehicles. The winner of our 2025 Best Electric Vehicle award has practicality and charm.
On the practical side, it’s a spacious midsize SUV with up to 318 miles of range, fast charging speeds thanks to an 800-volt architecture, and one of the most functional interior layouts of any modern car.
Charm comes from its unique style, which blends hard edges with gentle curves and a pixelated light theme that playfully evokes the 8-bit feel of the 1980s.
For 2026, it gets more attractive thanks to a significant price cut. This week, Hyundai announced four-figure markdowns on nearly every trim level. The “average price reduction for all 2026 IONIQ 5 models is $9,155,” the company says, with the entry-level model getting a $9,800 price cut.
The move helps make up for the loss of the federal government’s $7,500 EV tax credit, which expired at the end of September.
2026 Hyundai Ioniq 5 Pricing
All prices include a mandatory $1,600 delivery fee.
| Model | Motor | 2025 MSRP + destination fee | 2026 MSRP + destination fee | Price Reduction |
| IONIQ 5 SE RWD Standard Range | 125 kW (168 hp) Electric Motor | $44,200 | $36,600 | $7,600 |
| IONIQ 5 SE RWD | 168 kW (225 hp) Electric Motor | $48,250 | $39,100 | $9,150 |
| IONIQ 5 SEL RWD | 168 kW (225 hp) Electric Motor | $51,200 | $41,400 | $9,800 |
| IONIQ 5 Limited RWD | 168 kW (225 hp) Electric Motor | $55,900 | $46,675 | $9,225 |
| IONIQ 5 SE AWD | 74 kW + 165 kW (320 hp) Electric Motors | $51,750 | $42,600 | $9,150 |
| IONIQ 5 SEL AWD | 74 kW + 165 kW (320 hp) Electric Motors | $54,700 | $44,900 | $9,800 |
| IONIQ 5 XRT AWD | 74 kW + 165 kW (320 hp) Electric Motors | $57,100 | $47,875 | $9,225 |
| IONIQ 5 XRT AWD with Tow Hitch | 74 kW + 165 kW (320 hp) Electric Motors | $57,550 | $48,325 | $9,225 |
| IONIQ 5 Limited AWD | 74 kW + 165 kW (320 hp) Electric Motors | $59,800 | $50,575 | $9,225 |
