Hyundai Motor America is making an aggressive move on pricing. The company announced an Ioniq 5 price cut of up to $9,800 after the federal EV tax credit ended on September 30. The goal is to keep the model competitive and offset any demand gap.
On October 1, Hyundai said the 2026 Ioniq 5 lineup would see broad MSRP reductions. The SE RWD Standard Range drops from $42,600 to $35,000 (down $7,600). The SEL AWD falls from $53,100 to $43,300 (down $9,800). The flagship Limited AWD moves from $58,200 to $48,975 (down $9,225).
Hyundai said the decision supports expanding U.S. production while reinforcing the Ioniq brandโs position in a crowded EV market. Randy Parker, CEO of Hyundai Motor America, said the company is taking bold steps to keep the Ioniq 5 a top choice for EV buyers and to deliver advanced technology and innovation without compromise.
The Ioniq 5 price cut follows the end of the tax credit and is part of a broader strategy to strengthen brand competitiveness. The model has earned multiple international honors, including โWorld Car of the Yearโ and โBest Safety Car,โ underscoring its performance, design, and innovation.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
