Shock: Hyundai Slashes US-Built Ioniq 5 Price By Up To $9,800 As EV Tax Credit Ends
The federal EV tax credit program ended on Sept. 30, and it turns out that’s good news for Hyundai Ioniq 5 shoppers. The automaker announced on Wednesday that it is cutting the model’s price by up to $9,800 for 2026.
All of the Georgia-built trims get price drops, which start with the entry-level Ioniq 5 SE RWD Standard Range, which has 245 miles of range and has been reduced by $7,600 to $35,000, not including delivery fees.
Other trims get more than $9,000 off, with the SEL RWD (318 miles) and AWD (290) cut by $9,800 to $39,,800 and $43,300, respectively.
The off-road Ioniq 5 XRT that was named American Cars And Racing’s 2025 US-Built Sports Vehicle Of The YearTM gets a $9,225 discount to $46,275.
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“Hyundai is taking bold steps to ensure our award-winning Ioniq 5 remains a top choice for EV buyers,” Randy Parker, president and CEO, Hyundai Motor North America said in a news release. “This pricing realignment reflects our commitment to delivering exceptional technology and innovation without compromise.”
The only Ioniq 5 model not included in the repositioning is the high performance Ioniq 5 N, which continued to be built in South Korea after Hyundai moved the rest of the lineup to its Georgia factory.
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