The Hyundai Ioniq 5 price cuts come as the $7,500 federal EV tax credit ended on September 30. Unsurprisingly, EV sales surged in September as buyers rushed to claim the credit before it expired. The Hyundai Ioniq 5 saw some of the biggest gains, with September sales up 152 percent compared with last year.
Now, Hyundai aims to maintain momentum with significant 2026 price reductions across nearly the entire Ioniq 5 lineup. The company says these changes reflect “current market dynamics” and will support increased production for the U.S. market. The high-performance Ioniq 5 N remains an exception, with pricing yet to be announced.
The 2026 Ioniq 5 SE RWD Standard Range starts at $36,600, a $7,600 drop from 2025. The rear-wheel-drive SE with the 225-hp rear motor begins at $39,100, keeping it under $40,000. SE AWD models now start at $42,600, a reduction of over $9,000. SEL trim prices are also lower, with the RWD version at $41,400, down $9,800, and the SEL AWD at $44,900, reflecting the same decrease.
At the top end, the Limited RWD starts at $46,675, $9,225 less than last year, while the Limited AWD just crosses the $50,000 mark at $50,575. The off-road XRT trim also sees a $9,225 reduction, now starting at $47,875.
Since its 2022 launch, the Ioniq 5 has been a top-selling EV. With a refresh for 2025 and these new price cuts, the retro-futuristic EV is among the best deals on the market. However, only time will tell whether these reductions can fully offset the loss of the federal EV tax credit and sustain the sales momentum in the competitive EV segment.
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