The 2026 Hyundai Ioniq 5 Might Be America’s Finest EV Deal After A Big Worth Reduce

• Hyundai slashed costs for the 2026 Ioniq 5 by as much as $9,800 on Wednesday.
• The cuts make the Ioniq 5 maybe America’s finest EV deal.
• The Ioniq 5 now undercuts the Tesla Mannequin Y by a protracted shot, whereas providing higher worth and specs than different opponents.

Should you’re something like me, you are kicking your self for lacking out on the $7,500 federal clean-car tax credit score, which expired prematurely on Tuesday. Perhaps you could not get it collectively forward of the Sept. 30 deadline. Or possibly you, like me, simply did not actually need a brand new automotive but, FOMO be damned.

Concern not, although; EV offers are all over if you recognize the place to look. The very fact of the matter is that automotive corporations nonetheless have to promote this stuff with or with out assist from the feds. And we have already seen some automotive corporations reducing costs and providing sizzling offers to make up for the the tax credit score’s early demise.

On Wednesday, Hyundai slashed the manufacturer-suggested retail worth of the 2026 Ioniq 5 crossover by as much as $9,800, making up for the lack of the tax credit score after which some. In a single day, the brand new Ioniq 5 has develop into top-of-the-line—if not the finest—EV offers in America.

After the value minimize, a 2026 Ioniq 5 retails for as little as $35,000, earlier than vacation spot charges. Now, I will readily admit that is not low-cost low-cost. However it’s not rather a lot for a brand-new electrical automotive. Furthermore, this is not simply any electrical automotive. It is an Ioniq 5, a boldly styled, fast-charging, long-range crossover that is simply one of many all-around finest EVs you should buy at present.

Hyundai stated the transfer helps it “higher align with present market dynamics and help elevated U.S. manufacturing quantity.” And I might agree. At these costs, Hyundai’s going to maintain promoting a ton of this stuff. (It is moved some 41,000 of them this yr thus far.)

2025 Hyundai Ioniq 5 Restricted

Photograph by: Hyundai

The Ioniq 5 SE RWD now prices $37,500 and (in accordance with the 2025 mannequin yr’s figures) affords 318 miles of estimated vary. You possibly can bounce up a trim degree to the mid-tier SEL RWD for simply $39,800, or $9,800 lower than what the 2025 model would’ve price you. The twin-motor SEL AWD (290 miles of vary) additionally prices almost $10,000 lower than it did earlier than, dropping from $53,100 to $43,300.

Since not everybody certified for the EV tax credit score anyway as a result of family earnings caps, some consumers might have gained large by delaying their Ioniq 5 buy till now.

Now, let’s examine the Ioniq 5’s costs to among the competitors. The Ioniq 5 now beats most rivals in its ballpark, both on worth or capabilities or each.

The SE RWD is only a couple grand greater than the 319-mile Chevrolet Equinox EVwhich we persistently advocate as one of many prime EV bargains. And, all like to the Equinox EV, however I might slightly have an Ioniq 5.

It is also a number of thousand bucks lower than the 314-mile Toyota bZ. For a 300-mile Mustang Mach-Eyou are over $43,000. The Volkswagen ID.4 begins at over $45,000 for 291 miles of EPA vary.

2025 Hyundai Ioniq 5 Restricted

Photograph by: Hyundai

And in contrast to any of these vehicles, the Ioniq 5 makes use of an 800-volt structure that enables for super-fast charging. A cost from 10%-80% ought to occur in simply 20 minutes, which is excellent. It additionally comes from the manufacturing unit with the Tesla-designed NACS charging portone thing few non-Teslas have. That enables for dongle-free charging at Supercharger areas.

In our testing, we have additionally discovered that the Ioniq 5 rides and drives effectively. And we like its spacious, ethereal inside and retrofuturistic design.

The Tesla Mannequin Y—one other considered one of our prime picks—affords significantly extra vary than the Ioniq 5, nevertheless it prices much more too. The Lengthy-Vary Rear-Wheel Drive mannequin runs $44,900 and carries an EPA estimate of 357 miles. The All-Wheel Drive model prices $48,990 for 327 miles of vary.

Proper now, the 2026 Ioniq 5 is a tricky deal to beat. However automakers like Rivian, Common Motors and Ford are nonetheless providing lease offers funded by means of tax credit for a restricted time. I totally count on different manufacturers to observe go well with with worth cuts and deep reductions to stoke demand.

Tesla, for its half, has a protracted observe document of fast-and-loose worth cuts. So the Mannequin Y might be in spitting distance of the Ioniq 5 quickly.

And, talking of America’s EV chief, this is one other wildcard: The corporate says it is engaged on a Mannequin Y Lite (nomenclature my very own) that will likely be extra accessible than its present lineup. Relying on that mannequin’s worth, it might give Hyundai’s hatchback a run for its cash.

Backside line: Even with the EV tax credit score out of the image, there is a shocking quantity of good information for automotive consumers. For now, at the least.

Contact the writer: Tim.Levin@InsideEVs.com