The Electric Vehicle Price War Has Intensified, and Hyundai Made the Initial Move | Carscoops

      Prices for one of America's top-selling electric vehicles have seen a significant decrease, with the 2026 Ioniq 5 now starting at $35,000.

      Hyundai has reduced the pricing on the Ioniq 5 by as much as $9,800.

      The starting price has dropped from $42,600 to $35,000, and the vehicle now includes a dual-level charging cable.

      With the clean vehicle tax credit expiring yesterday, Hyundai has swiftly adjusted the pricing, reducing it by an average of $9,155. This represents a considerable decrease, as the base model now starts at $35,000, which is $7,600 lower than last year's version.

      For those seeking enhanced power and range, the Ioniq 5 SE is available, starting at $37,500, which is a reduction of $9,150 from the previous entry point of $46,650.

      The most significant price drop is seen in the well-equipped SEL trims, which are priced at $39,800 for rear-wheel drive and $43,300 for all-wheel drive. Both options are an impressive $9,800 less than before.

      Hyundai stated they are repositioning the model to “better align with current market dynamics and support increased production in the U.S.” They noted that these changes are part of a broader strategy to maintain the Ioniq brand’s leadership in the electric vehicle sector while adapting to changing consumer expectations and competitive challenges.

      Despite the notable price reductions, Hyundai seems to have avoided cutting features to reduce costs, as they have added a dual-level charging cable.

      Additional modifications are minimal, but a new Sage Silver Matte paint option has been introduced, along with the Cosmic Blue Pearl and Vibrant Ultimate Red being available for all trims.

      While Hyundai did not reference the tax credit, they are offering a $7,500 incentive for those who purchase or lease a 2025 model. However, it may be more advantageous to wait for the 2026 Ioniq 5 unless significant discounts are available on the earlier model.

      Hyundai Ioniq 5 Pricing

      Prices do not include a $1,600 destination fee.