Hyundai EV prices slashed by up to $34K

HYUNDAI has announced that it will cut up to $34,142 from the national driveaway price of its slow-selling electric vehicle range, including stocks of new vehicles that are now up to two years old.

While the Korean importer has not stated how many vehicles will be discounted, it has marked down the price of models including the Kona Electric, Inster, Ioniq 5, and Ioniq 6 by a considerable margin.

The entry-segment Inster Standard Range is offered from $39,990 (a discount of $3320.02), the Extended Range from $42,990 (-$3925.02), and the Inster Cross from $45,990 (-$3540.02).

For the Kona Electric Standard Range, we find a driveaway price of $49,990 representing a $9189.02 saving for prospective buyers. A similar discount is applied to the Ioniq 5 Standard Range, which is now available from $65,990 (-$9779.02).

But it’s the awkwardly styled Ioniq 6 that receives the largest price cut. MY23 plated Ioniq 6 Dynamic variants are now available from $49,990 – a discount of $27,564.02 on the regular driveaway price.

The MY23 Ioniq Techniq is now offered from $54,990 driveaway (-$33,589.02), while the range-topping Ioniq Epiq – which is also MY23 plated – is now $59,990 driveaway, a discount of $34,142.02.

While heavy discounting does impact the value of vehicle models purchased at full price, it does offer buyers seeking to purchase a new vehicle the opportunity to enter the market at a considerable cost advantage.

Speaking with GoAuto this week, a dealer source (who wished to remain anonymous) said such drastic price cuts are something of a double-edged sword, devaluing a full-price purchase for consumers and lowering used car values for dealers.

“Heavily discounted new cars negatively impact owners who purchase them early at full price, experiencing a significantly lower resale value due to depreciation, while owners who later purchase at discounted rates benefit from lower costs but may face higher competition for deals,” he said.

“High new car inventory and price reductions, especially for EVs, also increase the supply of used cars, further driving down their value and potentially hurting the resale prospects of earlier buyers.

“The most significant impact is on owners who bought their cars before widespread discounts were offered. They will suffer the largest resale value loss when selling the vehicle, as the market price is now lower than what they originally paid.”

Hyundai electric vehicle discounts (Q4, 2025):