The overestimation of EV demand has cost automakers billions and led to a wave of EV cancellations in the United States. But the EVs that have stuck around are, in many cases, much better deals now than they were a year ago. Not only have prices been slashed, but automakers are running aggressive deals to move fully electric vehicles. Hyundai is one of them, and the Korean automaker currently has two massive cash deals on its Ioniq 5 and Ioniq 9 SUVs. Both deals will save you even more than the maximum $7,500 tax credit that was previously available to certain buyers.
$10,000 Off Hyundai’s Best EVs
Hyundai
Hyundai
Hyundai
Hyundai’s cash offers amount to $10,000 off both these EVs, a discount that’s hard to ignore. Even better is the fact that both deals are offered across the range of trims, so they’re not exclusive to the pricier models. The base Ioniq 5 costs just $35,000 currently after big price cuts last year, so $10,000 in total savings takes it well into budget EV territory—a category only represented by the likes of the Nissan Leaf and Chevrolet Bolt.
The deals apply to Ioniq 5 and Ioniq 9 EVs that are financed through Hyundai Motor Finance (HMF), and the Dealer Choice Bonus Cash must be applied as a down payment. To qualify, customers must take delivery from retail stock by March 2, 2026. This offer can’t be combined with any other offer.
Hyundai
These offers may not be available in your specific area, so we suggest checking Hyundai’s website and entering your zip code to see what’s available.
For reference, the 2026 Hyundai Ioniq 5 has five trims, with the top XRT costing $46,275 before any incentives. The larger, three-row Ioniq 9 is priced between $58,955 and $76,490.
The Shrinking EV-Gas Price Gap
Hyundai
For years, the higher upfront cost of an EV was deemed a key barrier to entry. Let’s take the Hyundai Tucson and Ioniq 5 duo as an example, as they occupy a similar space in the brand’s range, despite their disparate proportions. Here’s a look at the starting prices of these models in 2023 versus today.
| Model | Base Price (2023) | Base Price (2026) | Price Change (2026–2023) | % Change | Gap vs Other Model (2023) | Gap vs Other Model (2026) | Gap Reduction |
| Hyundai Tucson | $26,900 | $29,450 | +$2,550 | +9.5% | $14,550 (vs Ioniq 5) | $5,550 (vs Ioniq 5) | $9,000 closer |
| Hyundai Ioniq 5 | $41,450 | $35,000 | –$6,450 | –15.6% | $14,550 (vs Tucson) | $5,550 (vs Tucson) | $9,000 closer |
The Ioniq 5 is now just $5,550 more expensive than the Tucson, as opposed to $14,550 more three years ago. Once you add in the $10,000 cash bonus available this month—assuming you qualify—it’s actually cheaper. With that, you get a high-tech EV with greater refinement and punchier performance than a comparable Tucson.
This comparison highlights how dramatically the EV landscape has changed in a fairly short period of time. If you wanted to make the switch to an EV, deals like this month’s from Hyundai make it more appealing than ever.
About the author
Karl Furlong
Senior Editor, Autoblog