2022 Hyundai Ioniq 5 Pricing Announced for U.S. – Starting at $40,925 Before Credits

By Edward A. Sanchez – Dec. 13, 2021

After months of speculation, Hyundai has finally announced official pricing for the Ioniq 5 crossover for the U.S. market. For the purposes of this post, we’re not factoring in the maximum $7,500 tax credit, as it’s still not applied at point-of-purchase and can vary based on the buyer’s income level (if you’re curious about your use case, you can break out your calculator and figure it out). We’ve also included the mandatory $1,225 destination fee.

For the entry-level 58 kWh RWD model with the 168 hp motor, the price of admission is $40,925, including destination. If you want the top of the line, all the bells and whistles AWD dual-motor Limited model, prepare to lay out $55,725.

In between those models, you have the SE RWD extended range with the 77.4 kWh battery, which starts at $44,875. The SE AWD model, which is the lowest-cost, dual-motor configuration, is $48,375.

Moving up the food chain, the SEL RWD is $47,125, the SEL AWD is $50,625, the Limited RWD is $51,825, and as noted earlier, the Limited AWD is $55,725.

The Ioniq 5 doesn’t feature bargain-basement pricing, but compared to the competition, it’s extraordinarily competitive.

This is clearly a far cry from Hyundai’s early days where the Excel debuted at $4,995 in 1985. This also makes it the highest-priced Hyundai brand model currently on sale, with the exception of the Nexo fuel cell, which starts at $60,110, including $1,175 in destination charges.

Even with the potential tax credits, the Ioniq 5 is clearly not a bargain-basement proposition. But as is usually the case with Hyundai and Kia products, you get a lot of standard equipment for the money.

All Ioniq 5s come standard with 800V, 350 kW fast charging capability, Android Auto and Apple CarPlay smartphone projection, Bluelink connectivity, forward collision avoidance assist, blind spot and lane-keeping assist, and two years of unlimited 30-minute charging sessions on the Electrify America charging network.

For comparison, the Mustang Mach-E – probably its most obvious rival – starts at $44,995 including $1,100 destination, while the Volkswagen ID.4 starts at $41,190. The Tesla Model Y starts at $62,190, including $1,200 destination, and is no longer eligible for the current tax credit scheme, although that could change should the bill working its way through congress get approved.

The Ioniq 5’s interior is equally spacious and unique.

Looked at in that context, the Ioniq 5 doesn’t seem that outrageously priced. With performance as sprightly as sub-5-second 0-60 (for the dual-motor 320 hp version), and a possible 500+ hp N variant, it’s right in the thick of its competitive segment. We expect pricing for its E-GMP platform-mate Kia EV6 to be similar.

This sets the stage for the upscale Genesis GV60 variant to start in the $50,000+ range, and go well into the $60,000s.

How will customers respond to this pricing announcement? If the fact that reservations are already closed on the Ioniq 5, it’s a good indication there’s plenty of demand already.

The Ioniq 5 is expected in U.S. showrooms in late December.

(Images courtesy Hyundai Group)

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