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Prices of the upcoming 2022 Hyundai Ioniq 5 in the U.S. remain unknown, but in Canada they just emerged.
There are a total five versions of the car available, including two battery options (while in the U.S. there is only the bigger battery option). The MSRP prices according to The Car Guide are:
- Essential (58 kWh, RWD): $44,999 CAD
- Preferred (58 kWh, RWD): $46,999 CAD
- Preferred Long Range (77.4 kWh, RWD): $51,999 CAD
- Preferred AWD Long Range (77.4 kWh, AWD): $54,999 CAD
- Preferred AWD LR/Ultimate Package (77.4 kWh, AWD): $59,999CAD
* Freight and PDI is $1,825 CAD.
In Canada, the car (at least some of the less expensive versions) is eligible for quite significant incentives:
- in Québec: $5,000 from Ottawa and $8,000 from the provincial government
- in British Columbia: $5,000 from Ottawa and $3,000 from the provincial government
Here is the offer that we found on the Hyundai Canada website:
“Price includes Delivery and Destination charges, fees, levies and all applicable charges (excluding HST, GST/PST). Price excludes registration, insurance, PPSA and license fees. Fees may vary by dealer. Certain exterior or interior colour options may cost extra.”
Simple math would reveal that in the U.S., the 77.4 kWh RWD version ($51,999 CAD) would have to start at around $41,745 (+DST). We would expect something closer to $44,000, maybe even $45,000. After the $7,500 federal tax credit, it would be under $37,500.
For reference, the 2021 Ford Mustang Mach-E Route 1 ER RWD starts at an MSRP of $50,400 (+DST). the Tesla Model Y starts at $56,990 (+DST), but there is no federal tax credit.
What do you think, will the Hyundai Ioniq 5 be price competitive?
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