As Hyundai sent its online ordering tool for its much-anticipated Ioniq 5 mid-size electric SUV live in Australia, it was quickly overwhelmed, with the allocated vehicles sold within three hours of launch.
This means the “initial allocation” of 240 Ioniq 5s headed Down Under have all been spoken for, with the ordering system suspended shortly after it went live at 9:30am.
The Ioniq 5 arrives in a single high-spec trim in Australia, wearing MSRPs of $71,900 for the 160kW RWD version with 451km of range, or $75,900 for the 225kW AWD version with 430km of range. Both are backed by a 72.6kWh battery pack, the bigger of two available globally. To early adopters hoping to have another crack next month, we send our apologies, Hyundai confirmed no more examples would be available this year.
A brand representative said in a statement: “Once we have clear visibility of vehicle supply, we intend to release a second allocation of Ioniq 5s, with timing likely to be early 2022.”
The brand said it would keep interested customers who missed out on the initial allocation in the loop about the supply issues it is facing, and when the next batch of cars is likely to be available.
The brand said it would only take orders once production had been scheduled, to avoid long waiting times for customers, as is being experienced across the industry. Some popular models across the industry are currently attracting wait times of up to 18 months depending on variant.
Those hoping to send their money Kia’s way instead for its take on the same underpinnings, the EV6, might face the same issue when that car launches some time in 2022, with Kia Australia also warning us of extremely limited supply for the initial batch of highly specified cars.
The Ioniq 5 is proving to be a hit before examples have even been driven by customers.
The Ioniq 5 is the first of many next-generation electric SUVs to arrive in Australia imminently, with other cars including the Toyota bZ4X and much-anticipated Tesla Model Y.
Australia is not the only market to face high demand for the Ioniq 5, with the vehicle also experiencing overwhelming demand in its home market of South Korea.
Supply is also understood to be limited by the European market soaking up demand for electrified Hyundai Group products, with its stricter emissions regimes making them even more attractive to customers.