Mike Hagerty
Jul 18, 20232 min
Let me start here. If you haven't read what I wrote in April of 2022 about the Hyundai IONIQ 5, please click this link and do that now.
The car I drove then is identical to the 2023 we'll be talking about in this piece apart from two things (more on that in a minute) and there's an in-depth look at its astonishingly quick charging (10% to 80% in 18 minutes) that explains why the IONIQ 5 is arguably the best EV on the market at the moment.
The two things that have changed from the 2022 IONIQ 5 Limited AWD and the 2023 IONIQ 5 Limited AWD?
First is range. Up from 260 miles per charge to 266.
Second is the base price. 2022's $55,725 including destination is now $57,795.
Worse, because of specific content provisions in the new EV tax credit, the IONIQ 5 is no longer eligible for $7,500 in credits. Meaning the price is the price. What could be had for $48,225 after the credit last year is now almost ten grand more expensive.
There's one loophole, as Inside EVs reported: Lease it. In a lease, the credit goes to the dealer, who can apply it to the lease deal and pass the savings on to the lessee.
There is, as always with Hyundai, an enormous amount of standard equipment (a comprehensive suite of active safety features, 20-inch alloy wheels, a panoramic fixed-glass roof with sunshade, active grille shutters, LED headlamps, daytime running lights and taillights, rain-sensing wipers, proximity key with pushbutton start, head-up display, remote smart parking assist, heated and ventilated front seats, ambient interior lighting, a heated, leather-wrapped steering wheel, dual automatic temperature control, wireless device charging, navigation, and a Bose Premium audio system.
Carpeted floor mats ($210) were the only extra-cost option on our tester, so the bottom line of the window sticker reads $58,005.
The 2023 Hyundai IONIQ 5 is still a great vehicle---the one EV I would buy with my own money---but a price closer to $60,000 than $50,000 is a major hurdle, and that's a shame.