Although the $7,500 EV tax credit has expired, Hyundai is keeping the savings going. Hyundai is reducing 2026 IONIQ 5 prices by nearly $10,000, while extending the tax credit for the current model year.
The 2026 Hyundai IONIQ 5 gets a nearly $10,000 price cut
The 2026 IONIQ 5 is slated for a significant price cut as Hyundai commits to offering more affordable vehicles in the US.
Hyundai said it will reduce prices by up to $9,800 on the 2026 IONIQ 5. The savings will depend on the trim, but no other details were offered.
In the meantime, Hyundai will continue to offer the $7,500 cash incentive for the current 2025 models through at least October.
The price changes “reflect Hyundai’s commitment to affordability and its long-term EV strategy,” the company said. Hyundai builds the IONIQ 5 alongside its larger IONIQ 9 electric SUV at the Hyundai Motor Group Metaplant America (HMGMA) in Georgia.
Higher sales and local production have helped Hyundai cut costs, which it’s now passing on to buyers. By making one of the most awarded EVs even more affordable, Hyundai aims to keep the momentum going.
The IONIQ 5 is coming off its best third-quarter sales to date after surging 90% year-over-year (YOY), with nearly 22,000 units sold. Through September, Hyundai has sold 41,091 IONIQ 5 models in the US, a 35% increase compared to the same period in 2024.
After delivering the first IONIQ 9 models to customers at the end of May, sales have reached 4,177 units through September.
The 2026 IONIQ 5 is not yet listed on Hyundai’s website, so prices have not been announced. The 2025 Hyundai IONIQ 5 starts at $42,500 with a driving range of up to 245 miles. Upgrading to the long-range SE RWD model, with 318 miles of range, costs $46,550.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price September 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
Last month, the 2025 Hyundai IONIQ 5 was one of the most affordable EVs on the market, with leases starting at just $179 per month. Hyundai’s offer ended on September 30, the same day the $7,500 federal tax credit expired. However, it’s promising to keep the deals alive.
Check back soon for the latest Hyundai offers. We’ll keep you updated with the latest deals.
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