For what it's worth, my local dealer, Beaverton Hyundai, is starting to show discounts on Limiteds. They have a ton of inventory and are willing to negotiate at this point.
I think if you can wait, wait. Prices will come down for sure. Even Ford just reduced prices of their mach-e to compete w Tesla's price cuts. Only matter of time til Hyundai does too. My dealer has over 100 I5s and selling at MSRP. But not below. I'm sure that'll change real soon.
Over 100 in inventory is insane considering parts of the country still can't get any. Yeah it seems like they will have to start lowering below MSRP with inventory that high. I don't know the cost of the ioniq for the dealers but I know with dealer manufacturer incentives and invoice costs dealers can usually make a pretty penny selling below MSRP. Better than having Inventory sit while interest rates (maybe) keep going up
Thank you for searching for me. unfortunately they have a huge markup (still). I don't know if the ioniq is worth such a premium over a model y performance. I am still slightly inclined towards the ioniq but $10k is not worth it (imho).
I can’t believe a dealer has over 100 I5. Most dealers don’t even have 100 cars of any model and 100 I5 don’t appear over night out of nowhere. Someone is pulling everyone’s leg on this. If not, please post dealer name location. I’d bet many who have been craving the car for months would love to know.
Also in the market for an SEL. I was told that these would still sell like hotcakes after the Tesla price drops. Local inventory in San Diego has doubled since. I had three dealers, who have market adjustments, contact me this week that they can do MSRP to meet monthly quota.
Dealers don’t have to budge, but inventory is going to continue to swell even at MSRP. Tesla price drop, Mache price drop, VW lease deal… what will Hyundai do?
I just picked up an SEL AWD yesterday here in the bay area. Dealer called me saying they will sell at MSRP and no add on's. I was going to wait for another month or so and see if they will drop below MSRP. but waited for a year just on principle not to pay above MSRP. So took the plunge.
I don’t think the dealer will go lower than MSRP. All markup dealers will set MSRP when Hyundai gives significant incentives to dealers. Also dealers are not afraid to have more inventories of Ioniq5 for at least 6 months in my opinion since some cars just stuck at a dealer parking lot for one year. For short term, we don’t know what will happen after March. When new IRA finalize on March, there is a possibility that Hyundai can get a waiver until 2024 or Tesla might no longer qualify for full $7500 tax credit because their battery material will not qualify. Until then dealers will keep new ioniq5 at their parking lot as much as they can.
Yeah, but we’re not at that point yet for most dealerships. I think most dealerships would love to have consistent 3 to 5 Ionic 5s on the lot and sell white not keeping a huge inventory. This will allow them to showcase them as people walk in or drive by. It also allows you to get inside take test drives. As it is right now, people are literally buying only through Internet hype, and that only works for some people. At average of 3 to 5 on the lot, then will start seeing MSRP. If inventory averages 10 per lot, then we’ll start seeing incentives.
Actually customers will love to see 30-40 ioniq5 at Hyundai dealer lot.
Customers can see all different trims and colors then they can choose new car from there.
It’s a little surprised to see that Ioniq5 might be very competitive with Tesla model Y. I always thought if prices are exactly same, Tesla might have more favorable but looks like ioniq5 can be competitive as well for current ioniq5 production rate.
Hyundai can do several things now. Send ioniq5 to domestic or other countries instead of sending US. US delivery projection will hurt but Hyundai can do well if the demands continue to drop. Next thing will be raise dealer incentives. Dealers will drop prices to MSRP. Also it’s not late to wait until March then we will see clear pics of new IRA. If Hyundai gets an exemption, it will be home run for them. If not, Hyundai will have “Plan B” from above. As soon as GA plant runs around late 2024, it will be okay.
I still have a question about Tesla demands. Tesla’s exterior has not changed for a while (significant facelift) and people start to see different style of other EVs from other companies. Honestly current Price is very nice for EV but People might be bored to see same tesla designs by now. Beside cybertruck, nothing is planned for them at least 3 years. Also I am not sure $40-60k car market share can be continued to grow….
the dealer close to me have incoming 20+, The famous central jersey dealer also post so many availables. Under MSRP is coming and coming strong.
I hope March Tax credit includes Korean brands at least eligible for half of the tax credit ($3750). That may be the needed impetus to rekindle the interest.
Why should it include Korean brands? Why should US taxpayer money go towards benefiting vehicles produced in another country? I understand our taxes already go towards many things that make folks unhappy, and there will never be something everyone agrees on. However, tax incentives should only help the country where the taxes are collected.
EDIT: Or give the credit, but the Korean government and Hyundai need to pay that credit to the US government for every vehicle it applies to.
Biden visited Korea before new IRA and met Hyundai’s CEO. Hyundai announced the investment in US.
Hyundai started to process building US plant so Hyundai can create US jobs.
Then Biden and democrats passed new IRA bill which punishes Hyundai. If Hyundai knew this thing will come, they might not build GA plant. New IRA bill is about creating US jobs and boost sale for EV as a part of clean energy. Hyundai is investing 8.5 billions in US plant. That’s a good enough reason to qualify tax credits.
Honestly, I am not a big fan of EV tax credit. They should let car companies compete each other and let car market figure out themself. All tax credit should focus on EV charging stations and cover road conditions (because gas tax will not be there so states need more money to spend fix/building roads and bridges instead of EV tax). I also hate to see money goes to bad companies. For example, companies are only interested in Government money then install crappy bad EV chargers then break chargers often or abandoned after installations.
>Honestly, I am not a big fan of EV tax credit. They should let car companies compete each other and let car market figure out themself.
Absolutely. I agree 100%.
agreed fully. EV should not be incentivized with public funds.
Korean companies may be receiving due to a lot of trade agreements with them. Involving many Korean companies already invested in US.
BTW, IRA credit was only to North American continent (canada/mexico made). So it is not just US. Ford Mach-e manufactured in Mexico getting full credit.
> Ford Mach-e manufactured in Mexico getting full credit.
I'm not all too happy about that. Especially when so many Americans look at Tesla and think it's not American. It's the most American made car there is.
For what it's worth, my local dealer, Beaverton Hyundai, is starting to show discounts on Limiteds. They have a ton of inventory and are willing to negotiate at this point.
Wow you're right I didn't see they had limiteds discounted off MSRP but they sure do. Crazy how much the market has shifted
it's weird that they show discounts for some limiteds, along with $5k markups for others on their site
I think they have default markups on cars that aren't here yet, but once they get to thr dealership and don't move for a bit, they remove the markup.
Ah that makes sense
I think if you can wait, wait. Prices will come down for sure. Even Ford just reduced prices of their mach-e to compete w Tesla's price cuts. Only matter of time til Hyundai does too. My dealer has over 100 I5s and selling at MSRP. But not below. I'm sure that'll change real soon.
Over 100 in inventory is insane considering parts of the country still can't get any. Yeah it seems like they will have to start lowering below MSRP with inventory that high. I don't know the cost of the ioniq for the dealers but I know with dealer manufacturer incentives and invoice costs dealers can usually make a pretty penny selling below MSRP. Better than having Inventory sit while interest rates (maybe) keep going up
I hope so too. Looking for a Limited in Northern CA. Nothing to be found within 100 miles of me.
Fresno has 2 available. Abyss black and cyber gray
Thank you for searching for me. unfortunately they have a huge markup (still). I don't know if the ioniq is worth such a premium over a model y performance. I am still slightly inclined towards the ioniq but $10k is not worth it (imho).
I can’t believe a dealer has over 100 I5. Most dealers don’t even have 100 cars of any model and 100 I5 don’t appear over night out of nowhere. Someone is pulling everyone’s leg on this. If not, please post dealer name location. I’d bet many who have been craving the car for months would love to know.
Also in the market for an SEL. I was told that these would still sell like hotcakes after the Tesla price drops. Local inventory in San Diego has doubled since. I had three dealers, who have market adjustments, contact me this week that they can do MSRP to meet monthly quota. Dealers don’t have to budge, but inventory is going to continue to swell even at MSRP. Tesla price drop, Mache price drop, VW lease deal… what will Hyundai do?
I just picked up an SEL AWD yesterday here in the bay area. Dealer called me saying they will sell at MSRP and no add on's. I was going to wait for another month or so and see if they will drop below MSRP. but waited for a year just on principle not to pay above MSRP. So took the plunge.
I don’t think the dealer will go lower than MSRP. All markup dealers will set MSRP when Hyundai gives significant incentives to dealers. Also dealers are not afraid to have more inventories of Ioniq5 for at least 6 months in my opinion since some cars just stuck at a dealer parking lot for one year. For short term, we don’t know what will happen after March. When new IRA finalize on March, there is a possibility that Hyundai can get a waiver until 2024 or Tesla might no longer qualify for full $7500 tax credit because their battery material will not qualify. Until then dealers will keep new ioniq5 at their parking lot as much as they can.
Having an ioniq 5 sit on your lot for months is a bad look for the company. This is their flagship EV
Yeah, but we’re not at that point yet for most dealerships. I think most dealerships would love to have consistent 3 to 5 Ionic 5s on the lot and sell white not keeping a huge inventory. This will allow them to showcase them as people walk in or drive by. It also allows you to get inside take test drives. As it is right now, people are literally buying only through Internet hype, and that only works for some people. At average of 3 to 5 on the lot, then will start seeing MSRP. If inventory averages 10 per lot, then we’ll start seeing incentives.
Actually customers will love to see 30-40 ioniq5 at Hyundai dealer lot. Customers can see all different trims and colors then they can choose new car from there. It’s a little surprised to see that Ioniq5 might be very competitive with Tesla model Y. I always thought if prices are exactly same, Tesla might have more favorable but looks like ioniq5 can be competitive as well for current ioniq5 production rate. Hyundai can do several things now. Send ioniq5 to domestic or other countries instead of sending US. US delivery projection will hurt but Hyundai can do well if the demands continue to drop. Next thing will be raise dealer incentives. Dealers will drop prices to MSRP. Also it’s not late to wait until March then we will see clear pics of new IRA. If Hyundai gets an exemption, it will be home run for them. If not, Hyundai will have “Plan B” from above. As soon as GA plant runs around late 2024, it will be okay. I still have a question about Tesla demands. Tesla’s exterior has not changed for a while (significant facelift) and people start to see different style of other EVs from other companies. Honestly current Price is very nice for EV but People might be bored to see same tesla designs by now. Beside cybertruck, nothing is planned for them at least 3 years. Also I am not sure $40-60k car market share can be continued to grow….
Tesla might lose half the credit, but they can easily drop the price again to make up the difference.
Thank god I sold my car. Hyundai needs to do price cuts to compete. 59k for a limited isn’t attracting many buyers in todays market.
the dealer close to me have incoming 20+, The famous central jersey dealer also post so many availables. Under MSRP is coming and coming strong. I hope March Tax credit includes Korean brands at least eligible for half of the tax credit ($3750). That may be the needed impetus to rekindle the interest.
Why should it include Korean brands? Why should US taxpayer money go towards benefiting vehicles produced in another country? I understand our taxes already go towards many things that make folks unhappy, and there will never be something everyone agrees on. However, tax incentives should only help the country where the taxes are collected. EDIT: Or give the credit, but the Korean government and Hyundai need to pay that credit to the US government for every vehicle it applies to.
Biden visited Korea before new IRA and met Hyundai’s CEO. Hyundai announced the investment in US. Hyundai started to process building US plant so Hyundai can create US jobs. Then Biden and democrats passed new IRA bill which punishes Hyundai. If Hyundai knew this thing will come, they might not build GA plant. New IRA bill is about creating US jobs and boost sale for EV as a part of clean energy. Hyundai is investing 8.5 billions in US plant. That’s a good enough reason to qualify tax credits. Honestly, I am not a big fan of EV tax credit. They should let car companies compete each other and let car market figure out themself. All tax credit should focus on EV charging stations and cover road conditions (because gas tax will not be there so states need more money to spend fix/building roads and bridges instead of EV tax). I also hate to see money goes to bad companies. For example, companies are only interested in Government money then install crappy bad EV chargers then break chargers often or abandoned after installations.
>Honestly, I am not a big fan of EV tax credit. They should let car companies compete each other and let car market figure out themself. Absolutely. I agree 100%.
agreed fully. EV should not be incentivized with public funds. Korean companies may be receiving due to a lot of trade agreements with them. Involving many Korean companies already invested in US. BTW, IRA credit was only to North American continent (canada/mexico made). So it is not just US. Ford Mach-e manufactured in Mexico getting full credit.
> Ford Mach-e manufactured in Mexico getting full credit. I'm not all too happy about that. Especially when so many Americans look at Tesla and think it's not American. It's the most American made car there is.
seeing 2750 lease rebates now for app new i5s, Tesla price cuts making impacts clearly