Inflation? What Inflation? The 2026 Hyundai IONIQ 5 AWD Limited
Before anyone...or everyone...loses their mind over the headline---yes, I know. The price of everything is up.
Well, almost.
The 2026 Hyundai IONIQ 5 AWD (all-wheel drive) Limited you see here has a base price of $48,975, with 20-inch wheels as standard equipment.
A year and a half ago, I reviewed the 2025 Hyundai IONIQ 5 RWD (rear-wheel drive) Limited with 18-inch wheels as standard equipment. And its base price was $54,200.
And the size of the wheels and the number of them being driven isn't the only difference between the two cars. The IONIQ 5 RWD has 225 horsepower and 258 pound-feet of torque. The IONIQ 5 AWD has 320 horsepower and 446 pound-feet of torque---just like the wild off-road IONIQ 5 AWD XRT I reviewed a year ago.
What happened? Hyundai took a buzzsaw to its pricing in an attempt to offset the end of federal tax credits for EVs. That brought what had been the $58,200 base price of a more powerful all-wheel drive IONIQ 5 Limited below the price for the less powerful rear-wheel drive 2025 IONIQ 5 Limited (which now starts at $45,075).
You're reading that right---a $9,225 price reduction for the AWD Limited, and a $9,125 drop for the RWD Limited.
That makes the AWD very affordable, with the only penalty being more frequent charging stops. Its EPA range estimate is 269 miles, while the RWD model's is 318 miles. The question for a buyer is: Would you rather go faster or farther?
Plus---for 2026, Hyundai has increased battery size from 58 kWh to 63 kWh and cut charging times. Its already impressive 18 minute time to charge from 10% to 80% is now just 16 minutes on a properly-working 350kW DC fast charger under ideal conditions (which I and other journalists have been able to replicate).
Beyond that, no matter which you choose, it's all the usual IONIQ 5 goodness (regular readers know I've been a big fan since the first one I drove four and a half years ago). Just off a light styling refresh for 2025, there are no changes apart from the price cut. Cargo capacity remains at 26.3 cubic feet behind the back seat and 58.5 cubic feet with that seat folded down.
The only real failing of the IONIQ 5 in my book is the lack of a frunk (front trunk). There is a small storage bin with a clamshell top in the midst of some essential electrics and mechanics, but the emergency charging cable, DC fast charging adapter and first aid kit (none of which I would leave home without) take up most of that space.
As mentioned at the start, the base price of the 2026 Hyundai IONIQ 5 AWD Limmited is $48,975 ($50,575 including destination). That money buys a lot of standard equipment (see the window sticker at the end of the review).
The few extra-cost options on our test vehicle are small items like $65 for a charging port applique (if you expand the photos of the charging port to full screen, you can see the outline of the protective film and a small Hyundai logo), $240 for carpeted floor mats, $165 for the extension of the cargo mat up the rear seatback, $60 for a cargo net, $45 for the aforementioned first aid kit, $235 for a charging adapter, and $60 for a severe weather kit.
That puts the bottom line on the window sticker at $51,715.
I would have told you the IONIQ 5 was a good deal and one of my favorite EVs before the price cut.
Now, it's a steal.
2026 Hyundai IONIQ 5 AWD Limited at a glance:
Price: $48,975 base/$51.715 as tested
Battery: 63 kWh
Horsepower: 320
Torque: 446 lb-ft.
Transmission: Single-speed automatic
Curb Weight: 4806 lbs.
0-60 Acceleration (Car and Driver data): 4.4 seconds
EPA Fuel Economy Estimate: 98 MPGe
EPA Range Estimate: 269 miles
Class competitors: Ford Mustang Mach-E, Chevrolet Equinox EV, Kia EV6, Nissan Leaf, Chevrolet Blazer EV, Honda Prologue, Volkswagen ID.4, Subaru Solterra Subaru Uncharted, Toyota bZ, Toyota C-HR, Rivian R2, Tesla Model 3, Tesla Model Y.
