Fast Facts | Hyundai’s New EV Discounts
💵 Headline: IONIQ 5 2026 from $35,000 MSRP; up to $9,800 lower vs 2025 trims
🏭 Why: Record 2025 sales + higher output from Hyundai’s Georgia EV megaplant
📉 Leases: IONIQ 5 SE from ~$249/mo (base), ~$259/mo (SE Long Range) as quoted
🌏 Global: Australia cuts on IONIQ 5/6, Inster, Kona Electric (biggest drops in AUD)
🧮 Context: Price drops offset loss of $7,500 federal credit; check state/local incentives
What Changed: Hyundai’s New EV Pricing
Hyundai recently announced that it is reducing the prices on its popular all-electric IONIQ 5 compact crossover SUV here in the US. While pricing for the base model 2025 IONIQ 5 started at $42,600 MSRP, you can save up to $9,800 on the 2026 model, coming in at just $35,000 MSRP.
The new American pricing makes this Hyundai EV one of the most affordable electric vehicles available, right up there with the Chevrolet Equinox EV (MSRP starting at $36,495).
Cross-shopping IONIQ 5 against a budget rival? See Chevrolet Equinox EV: Range and Pricing Details
Hyundai tells us that the very generous discounts on its EVs shows the company’s “commitment to affordability” and is part of the automaker’s long-term strategy for earning trust in its electrified offerings.
Why Now: Sales Momentum + Georgia Megaplant Output
How are these deep discounts possible? Hyundai says it comes down to record vehicle sales in 2025 and higher output from its dedicated 2,906-acre EV assembly and battery manufacturing plant, known as the Megaplant in Ellabell, Georgia.
Global Moves: Australia Price Cuts and Model Mix
Reduced vehicle costs are being passed on to the US consumer and that certainly takes the sting out of losing that federal EV tax credit. But that’s not all. Hyundai cut prices last week in Australia where some of the company’s EV prices have been reduced by as much as $34,000 in Australian currency (equal to $22,400 in US dollars).
The Korean auto company has reduced prices on its IONIQ 5, IONIQ 6, Inster EV, and Kona Electric models down under. Hyundai’s most affordable EV is its Inster, which offers prices of under $40,000 (AUD) for the first time in Australia.
Buyer’s Guide: Price vs Incentives vs Lease
The automaker says that while discounts in America were in response to the $7,500 federal tax credit going away, its price cutting in Australia was caused by a high demand for EVs, which in September accounted for over eleven percent of all new car sales.
Here in the US, the EV discounts for the 2026 IONIQ 5 start with the entry level SE RWD standard model with a price reduction of $7,600. The next three trim levels offer 318 EPA estimated miles of driving range and a price reduction of $9,150 or more. For instance, the 2025 SEL trim started at $54,300 MSRP while the 2026 version starts at $39,800 MSRP (a $9,800 savings).
If you’d rather lease a new IONIQ 5, Hyundai tells us that lease deals in October 2025, for the base model with its 245-mile EPA estimated range starts at just $249 per month while the SE long range trim with 318 EPA estimated miles of range can be leased for as low as $259.*
*Lease prices as of this writing are reported by Hyundai and may change.
Note that Hyundai is also offering a $7,500 cash incentive for its 2025 IONIQ 5 models until the end of October.
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