Federal EV tax credits ended a few days ago, which led to a buying frenzy as people rushed to grab an electric model before the incentives expired. Hyundai’s EVs were not eligible for the credits due to their foreign build locations and other factors, but it offered deep incentives to compensate. The automaker will continue offering discounts going forward, even as the tax credits disappear, as it recently announced significantly lower prices for the 2026 Ioniq 5.
Hyundai extended its in-house $7,500 discount through October for 2025 model-year EVs, but the upcoming Ioniq 5 lands with price cuts that reach $9,800 on some variants. All models saw a price decrease, with the entry-level SE Standard Range RWD trim seeing the smallest cut, at $7,600.
The discounts will almost certainly help sell Ioniq 5s, but they’re also a refreshing development that comes at a time when all vehicles feel extremely pricey, even gas models. The new range-topping Limited AWD trim costs $50,575 after destination, and it offers 320 horsepower and a load of other features, and its $9,225 discount makes it feel like a solid value.
Hyundai hasn’t released pricing for the 2026 Ioniq 6 sedan yet, but it is a year newer and may not receive similar discounts. The Ioniq 9 is all-new for 2026 and starts at around $59,000 and is not discounted.
[Images: Hyundai]
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