Hyundai lowers prices for 2026 Ioniq 5
Make no mistake, these are substantial price cuts, and make the IONIQ 5 one of the most competitively priced vehicle lines in this segment. The average price reduction for all 2026 models is $9,155; the entry level IONIQ 5 SE RWD will cost $35,000, down $7,600 from $42,600. And, on the higher trim levels, the discounts are even more substantial.
The reductions come off the back of record quarter for the IONIQ 5, which saw its best third-quarter sales in the US to date following a total of 22,000 units sold and a 90% surge year-over-year. Throughout September, Hyundai sold a total of 41,091 IONIQ 5s in the US – 35 per cent higher than the same month in 2024.
The only catch is that the 2026 IONIQ 5 is more or less a carry over of the 2025 model; the only real difference is that a dual amperage Level 1 / Level 2 combination charger is now included, plus there’s an additional Sage Silver Matte colour option available.
| Model | 2025 MSRP | 2026 MSRP | Price reduction |
| Ioniq 5 SE RWD Standard Range | $42,600 | $35,000 | $7,600 |
| Ioniq 5 SE RWD | $46,650 | $37,500 | $9,150 |
| Ioniq 5 SEL RWD | $49,600 | $39,800 | $9,800 |
| Ioniq 5 Limited RWD | $54,300 | $45,075 | $9,225 |
| Ioniq 5 SE AWD | $50,150 | $41,000 | $9,150 |
| Ioniq 5 SEL AWD | $53,100 | $43,300 | $9,800 |
| Ioniq 5 XRT AWD | $55,500 | $46,275 | $9,225 |
| Ioniq 5 XRT AWD with Tow Hitch | $55,950 | $46,725 | $9,225 |
| Ioniq 5 Limited AWD | $58,200 | $48,975 | $9,225 |
If you do want a better idea of what its performance might end up looking like for the 2026 model, Electrive‘s Sebastian Schaal reviewed the 2025 Ioniq 5 earlier this year.
The price cuts follows the removal of key Hyundai models from the US EV tax credit list in January 2025, due to the fact that the batteries used in cars like the IONIQ 5 and the IONIQ 9 didn’t comply with the Trump administration’s new rules on sourcing components and minerals.
In its place, Hyundai did offer a $7,500 cash incentive for the 2025 IONIQ 5 – roughly equivalent to the tax credit – and now says this will continue to apply to any remaining 2025 reg IONIQ 5 vehicles that are sold.
This may not be the case for future Hyundai EVs going forward, however. In response to its removal from the tax credit list, Hyundai also decided to ramp up use of batteries from its US-based joint venture plant with SK On, as well as start producing the Hyundai Ioniq 5 at its factory in Savannah, Georgia. So, although Hyundai did lose the federal tax credit this year, it’s widely expected that it will be eligible again in 2026.
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