2024 Hyundai Ioniq 5 Prices Slightly Increased Compared To 2023

This year, sales of the Ioniq 5 in the U.S. will easily exceed 30,000.

2024 Hyundai Ioniq 5

Mark Kane

By: Mark Kane

Nov 27, 2023 at 8:10am ET

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The Hyundai Ioniq 5 has become one of the most popular all-electric car models in the United States with more than 28,000 sales through October of this year.

The 2024 model year is a carry-over model year, so it does not bring any noticeable technical changes to the Hyundai Ioniq 5, aside from a few new safety and convenience features.

However, when it comes to the pricing, there is a slight increase. The entry-level 2024 Hyundai Ioniq 5 SE with a Standard Range battery (58 kilowatt-hours) and a rear-wheel drive powertrain (125 kilowatts), starts at an MSRP of $41,650 (plus $1,335 destination charge). That's $200 more than in the case of the 2023 model-year version.

The same $200 price increase is applied to the SE trim, which comes with a 77.4-kWh battery and two powertrain versions (168-kW RWD and 239-kW AWD). The prices start at $45,700 (plus $3,500 for the all-wheel drive powertrain).

Interestingly, the better-equipped trim—SEL—starts at an MSRP of $47,250 (RWD), which is $200 less than in the 2023 model year. The AWD option costs $3,500.

The highest price increase is for the top-of-the-line Limited trim, which is $750 more expensive, starting at an MSRP of $53,350. The AWD version costs $3,900 more, but besides the dual-motor powertrain, it also has 20-inch wheels (255/45R20), compared to 19-inch (235/55R19) wheels on the other versions.

Prices

Model Base Price Dest. Charge Tax Credit Effective Price 2024 Hyundai Ioniq 5 SE SR RWD 19-inch $41,650 +$1,335 N/A $42,985 2024 Hyundai Ioniq 5 SE RWD 19-inch $45,700 +$1,335 N/A $47,035 2024 Hyundai Ioniq 5 SE AWD 19-inch $49,200 +$1,335 N/A $50,535 2024 Hyundai Ioniq 5 SEL RWD 19-inch $47,250 +$1,335 N/A $48,585 2024 Hyundai Ioniq 5 SEL AWD 19-inch $50,750 +$1,335 N/A $52,085 2024 Hyundai Ioniq 5 Limited RWD 19-inch $53,350 +$1,335 N/A $54,685 2024 Hyundai Ioniq 5 Limited AWD 20-inch $57,250 +$1,335 N/A $58,585

* the $7,500 federal tax credit might be available through leasing.

In terms of the driving range, the entry-level version has an EPA Combined range of 220 miles. The rear-wheel drive versions with a 77.4-kWh battery are rated at 303 miles, while all-wheel drive versions are rated at 260 miles.

The EPA rating does not differentiate the range between the SE/SEL AWD trims and the Limited AWD trim, but we assume that there will be a small change between them because of the difference in wheel size and tire width.

Basic specs

Model Drive Battery
(kWh) EPA
Range 0-60
mph
(sec) Top
Speed 2024 Hyundai Ioniq 5 SE SR RWD 19-inch RWD 58.2 220 mi 2024 Hyundai Ioniq 5 SE RWD 19-inch RWD 77.4 303 mi 115 mph 2024 Hyundai Ioniq 5 SE AWD 19-inch AWD 77.4 260 mi 5.0 115 mph 2024 Hyundai Ioniq 5 SEL RWD 19-inch RWD 77.4 303 mi 115 mph 2024 Hyundai Ioniq 5 SEL AWD 19-inch AWD 77.4 260 mi 5.0 115 mph 2024 Hyundai Ioniq 5 Limited RWD 19-inch RWD 77.4 303 mi 115 mph 2024 Hyundai Ioniq 5 Limited AWD 20-inch AWD 77.4 260 mi 5.0 115 mph

The Hyundai Ioniq 5 is equipped with a 10.9-kilowatt on-board charger, which is expected to recharge the 58-kWh battery in less than six hours (10-100%) and the 77.4-kWh battery in slightly over seven hours (10-100%).

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Comments

DC fast charging, from 10 to 80 percent of state-of-charge (SOC) should take just 18 minutes (at least in optimum conditions and when an 800 V high-power charger is available). The Hyundai Ioniq 5's batteries are nominally 523 volts (58 kWh) or 697 volts (77.4 kWh) and if a DC fast charger can't deliver such kind of voltage, then the charging speed might be significantly compromised.

The Hyundai Ioniq 5 also comes with two years of 30-minute complimentary charging sessions on the Electrify America charging network. For reference, the Kia EV6 gets only 1,000 kWh of charging credits.