Hyundai IONIQ 5 Price Cut Lets The EV Incentives Cat Out Of The Bag - CleanTechnica

Hyundai Motor America has announced significant price reductions for the 2026 IONIQ 5 electric vehicle lineup, cutting prices by $7,600 to $9,800 across various models. This move aims to make EVs more accessible and competitive amid a rapidly evolving market and shifting consumer expectations. Hyundai’s strategy aligns with increased U.S. production and seeks to maintain the IONIQ brand’s leadership in the EV space. Randy Parker, Hyundai Motor North America’s CEO, emphasized the company’s commitment to delivering advanced technology and innovation without compromise through this pricing realignment. The price cuts come at a critical time as federal EV tax incentives, which previously offered $7,500 to new electric car buyers, have largely expired, potentially dampening EV sales nationwide. Hyundai’s adjustment helps bridge the affordability gap that has long been a barrier to EV adoption, addressing concerns about high upfront costs compared to internal combustion engine vehicles. The IONIQ 5 has been a strong seller since its 2022