Hyundai Ioniq 5 Gets a Big Price Drop for 2026 Model

Hyundai just made one of its most popular EVs much more affordable as the 2026 Ioniq 5 arrives with price cuts across almost every trim. Could this bold move help the automaker keep its sales booming even after the federal tax credit expired?

The Hyundai Ioniq 5 has already been one of the most talked-about electric SUVs on the market, but now it’s becoming an even bigger deal. For 2026, Hyundai has officially slashed prices across the Ioniq 5 lineup, making it thousands of dollars cheaper than last year’s model. The move comes right after the $7500 federal EV tax credit ended on September 30, which had caused a rush in September sales. With that incentive gone, Hyundai is betting big on price cuts to keep buyers interested.

The changes are pretty impressive. The base model, the Ioniq 5 SE RWD Standard Range, now starts at $36,600, which is $7600 less than before. If you go for the more powerful SE RWD, you’ll still stay under the $40K mark with a price of $39,100. The SE AWD version also got a major cut and now starts at $42,600, saving buyers more than $9000 compared to last year.

It doesn’t stop there. The SEL trims see the biggest drop, with both RWD and AWD versions down by $9800. The Limited models also get significant reductions, with the Limited RWD now priced at $46,675 and the Limited AWD just over $50K at $50,575. Even the rugged XRT model is cheaper, starting at $47,875, which is $9225 less than before.

Since its debut in 2022, the Ioniq 5 has been one of Hyundai’s top-selling EVs. With its 2025 refresh and the new price cuts, Hyundai is making the Ioniq 5 one of the best deals in electric cars right now. The real test is whether these lower prices can keep sales strong even without the federal tax credit.