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2024 Hyundai Ioniq 5 electric car entry prices bumped up again production costs rise for Tesla Model Y EV rival

Hyundai has increased the pricing for its entry grade Ioniq 5 just a couple of months after confirming 2024 pricing.

Hyundai Australia has confirmed a modest price increase for the base grade of its lauded Ioniq 5 electric car after already announcing 2024 pricing earlier this year in September.

The 2024 Hyundai Ioniq 5 will now start from $65,000 before on-road costs, an increase of $500 over the previously stated price, for the 53kWh battery-equipped Ioniq 5, which makes 125kW from a motor powering the rear wheels.

This also applies to the more powerful 168kW rear-drive entry grade Ioniq 5, starting from $71,000 (+$500), which also boasts a larger 77.4kWh battery shared with higher grade Dynamiq and Epiq variants.

The Dynamic and Epiq are also available in the same 168kW rear-drive, 77.4kWh battery configuration, or as a hotted-up AWD version with the same battery but a total 239kW output.

The 2024 Hyundai Ioniq 5 will now start from $65,000 before on-road costs. The 2024 Hyundai Ioniq 5 will now start from $65,000 before on-road costs.

Pricing for those variants remains the same, with the rear-drive Dynamiq and Epiq starting from $76,000 and $79,500 respectively, or in AWD for $80,500 and $84,000.

For the 53kWh battery-equipped Ioniq 5, which makes 125kW from a motor powering the rear wheels. For the 53kWh battery-equipped Ioniq 5, which makes 125kW from a motor powering the rear wheels.

A spokesperson for Hyundai Australia confirmed to CarsGuide the small increase in entry pricing was made after initial pricing was announced in September due to increased production costs.

2024 Hyundai Ioniq 5 pricing before on-road costs

VariantPrice
IONIQ 5 2WD 125kW$65,000 (+$500)
IONIQ 5 2WD 168kW$71,000 (+$500)
IONIQ 5 2WD Dynamiq 168kW$76,000
IONIQ 5 AWD Dynamiq 239kW$80,500
IONIQ 5 2WD Epiq 169kW$79,500
IONIQ 5 AWD Eqiq 168kW$84,000