No EV Tax Credit? No Problem! Hyundai Drops 2026 Ioniq 5 Prices By Up to $9,800

Key Points:

• The Hyundai Ioniq 5 sees an average price drop of $9,147 across its lineup for the 2026 model year.
• Pricing for the SEL trim plummets $9,800.
• 2025 models in dealer inventory are eligible for incentives equal to the federal electric vehicle tax credit.

So, the federal electric vehicle tax credit is now gone, but Hyundai has an excellent plan to maintain the momentum that has made the Ioniq 5 SUV one of the bestselling EVs in the country: drop prices by more than the amount of the federal tax credit. Even without the federal incentive, buyers of the 2026 Hyundai Ioniq 5 will pay less for their electric SUVs than qualifying buyers of the 2025 model did.

Hyundai also has good news for shoppers considering a 2025 Ioniq 5: Those vehicles still in dealer inventory qualify for incentives equal to the now-expired tax credit, which is $7,500.

Related: The EV Tax Credit Is Done; What Should an EV Shopper Do Now?

Release Date and Pricing

The 2026 Hyundai Ioniq 5 will go on sale later this year. Full line pricing, including the $1,600 destination charge, is as follows. Savings versus the 2025 model are in parentheses.

• SE Standard Range: $36,600 ($7,600)
• SE: $39,100 ($9,150)
• SEL: $41,400 ($9,800)
• Limited: $46,675 ($9,225)
• XRT: $47,875 ($9,225)

Trim Levels

Other than some new paint colors and a new Level 1/Level 2 combination charger that’s included with all Ioniq 5s, the all-electric SUV is unchanged for 2026. The SE Standard Range and just-plain SE both ride on 19-inch wheels and feature keyless entry and starting, LED exterior lighting and heated side mirrors. Inside are cloth upholstery, a power-adjustable driver’s seat, heated front seats, dual-zone automatic climate control and a manual tilt/telescoping steering column with paddles to control the level of brake regeneration. Standard cabin tech includes a 12.3-inch digital instrument cluster, six speakers, and a 12.3-inch touchscreen with navigation and wireless Apple CarPlay and Android Auto. All-wheel-drive Ioniq 5s also get a heat pump, which regulates cabin temperature more efficiently than a traditional climate control system.

To that, the SEL adds a hands-free power liftgate, synthetic leather upholstery, a power-adjustable passenger seat, second-row climate control vents and a wireless phone charger.

The Limited gets rain-sensing windshield wipers, a moonroof, an eight-speaker Bose sound system, vehicle-to-load bidirectional charging and Digital Key 2.0, which allows owners to use a paired smartphone or watch as the vehicle key and to remotely monitor the Ioniq 5. Its cabin features ventilated front seats, a heated steering wheel, heated outboard rear seats, ambient lighting and a digital rearview mirror. AWD Limiteds ride on 20-inch wheels; rear-wheel-drive versions stick with 19s.

The XRT includes standard AWD, a 0.9-inch suspension lift, 18-inch wheels with all-terrain tires, and Terrain driving modes for Snow, Mud and Sand. It also wears unique bumpers and rocker-panel trim, as well as black exterior badging. It also gets the Limited’s Bose sound system, bidirectional charging and Digital Key 2.0.

Standard and Available Safety Features

Even the entry-level Ioniq 5 carries an impressive roster of standard driving aids, including forward collision warning with pedestrian and bicyclist detection, automatic emergency braking, adaptive cruise control, lane-centering steering, front and rear parking sensors, blind spot monitors, rear cross-traffic alert, a driver-attention monitor and automatic high beams.

The SEL adds blind spot intervention, front cross-traffic alert, emergency steering assist and Hyundai’s Highway Driving Assist 2 hands-on semi-autonomous driving tech. Buyers who upgrade to the XRT or Limited also get a 360-degree camera system, blind spot cameras, side parking sensors and automated parking.

Read More About the Hyundai Ioniq 5:

• 2025 Hyundai Ioniq 5 Review: Still Got It
• Is the 2025 Hyundai Ioniq 5 N an EV Car Enthusiasts Can Embrace?
• Hyundai, Genesis EV Owners Gain Access to Tesla Superchargers With Complimentary NACS Adapters
• 2025 Hyundai Ioniq 5 Moves to Georgia, Gets Face-Lift, Gains XRT Trim
• 2025 Cars.com Affordability Report: Best Value New Cars

Powertrain Specs and Range

The 2026 Ioniq 5 SE Standard Range has a single 168-horsepower electric motor with 258 pounds-feet of torque driving the rear wheels. Other RWD variants have a stronger motor that generates 225 hp and 258 pounds-feet.

AWD is not available on the SE Standard Range, but it is a $3,500 option on the regular SE and the SEL, a $3,900 option on the Limited and is standard on the XRT. AWD versions add a front-mounted motor, bringing total powertrain output to 320 hp and 446 pounds-feet of torque.

The SE Standard Range has a 63-kilowatt-hour battery; the rest of the Ioniq 5 lineup has an 84-kWh pack. All 2026 Ioniq 5s can accept up to 350 kilowatts at a DC fast charger, replenishing their batteries from 10% to 80% in as little as 20 minutes.

Official EPA ratings for the 2026 model are not yet available, but for 2025, the SE Standard range was good for 245 miles of range. With the larger battery and RWD, the Ioniq 5 had an EPA-estimated range of 318 miles; the AWD SE and SEL can travel up to 290 miles on a charge. With its larger wheels, the AWD Limited has a range of 269 miles, while the XRT’s all-terrain tires limit it to 259 miles.

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