Hyundai has revealed pricing for the 2027 IONIQ 5, with the base model starting at $35,250 (~AUD 49,761). The electric SUV continues to offer competitive range and features, maintaining its position as one of the most affordable EVs in the US market.
2027 Hyundai IONIQ 5: Pricing and Features
The 2027 Hyundai IONIQ 5 SE Standard Range will start at $35,250 (~AUD 49,761), a modest increase of $250 (~AUD 353) over the previous model year. This base model offers an EPA-estimated range of up to 245 miles (~394 km).
For buyers seeking more range, the SE RWD extended-range version starts at $37,750 (~AUD 53,290) and delivers up to 318 miles (~512 km) on a single charge. The SEL trim is priced from $40,200 (~AUD 56,749), while the XRT and Limited trims start at $46,525 (~AUD 65,678) and $49,125 (~AUD 69,348), respectively.
Hyundai has not yet announced pricing for the 2027 IONIQ 5 N, but the 2026 model currently starts at $59,900 (~AUD 84,559).
What’s New for 2027
The 2027 IONIQ 5 is largely a carryover model, with only minor updates. Roof rails will now be available across all trims and become standard on SEL models and above. Hyundai HomeLink will be exclusive to the Limited trim, and the Cargo Cover is now offered as an additional accessory.
Two color options, Gravity Gold Matte and Sage Silver Matte, have been discontinued for the 2027 model year.
Historical Context and Market Performance
Since its US debut in late 2021, the Hyundai IONIQ 5 has become a significant player in the electric SUV segment. The 2025 model year marked the first IONIQ 5 built in the US at Hyundai’s Metaplant in Georgia.
In the first half of 2026, the IONIQ 5 was the third best-selling EV in the US, trailing only the Tesla Model Y and Model 3. To address the loss of the $7,500 (~AUD 10,587) federal EV tax credit last year, Hyundai reduced prices on the 2026 IONIQ 5 by up to $9,800 (~AUD 13,834) on certain trims.
Competitor Comparison
The 2027 Hyundai IONIQ 5 remains one of the most affordable electric SUVs in the US. Its main competitors include the Tesla Model Y, which starts at $39,990 (~AUD 56,452) for the RWD version and offers up to 321 miles (~517 km) of range. The IONIQ 5 SE RWD, with up to 318 miles (~512 km) of range, is about $2,000 (~AUD 2,823) less than the Tesla Model Y RWD.
The Kia EV6 Light Long Range AWD, which shares its platform with the IONIQ 5, starts at $46,745 (~AUD 65,988), making the Hyundai a more budget-friendly option for buyers seeking similar technology. The Chevrolet Bolt EV, another compact electric hatchback, is mentioned as a less affordable lease compared to the IONIQ 5.
Other rivals in the segment include the 2027 Toyota bZ and Chevy Equinox EV, both priced similarly to the IONIQ 5. Hyundai’s sister brand, Kia, offers the 2027 EV3 starting at $30,000 (~AUD 42,350), though the IONIQ 5 is noted for its larger size and greater interior space.
Why this matters
The 2027 Hyundai IONIQ 5’s pricing strategy keeps it highly competitive in the growing US EV market. With incremental price increases and continued strong range figures, Hyundai is maintaining its appeal to cost-conscious buyers.
As the third best-selling EV in the US for the first half of 2026, the IONIQ 5’s affordability and features are likely to help sustain its popularity against established and emerging rivals.
What this means for buyers
Buyers considering an electric SUV will find the 2027 Hyundai IONIQ 5 offers a strong balance of price, range, and features. With only minor changes for the new model year, those seeking the latest updates may want to wait for the 2027 version, while shoppers looking for a deal could find discounts on remaining 2026 inventory.
Comparing the IONIQ 5 to competitors like the Tesla Model Y, Kia EV6, and Chevrolet Bolt EV can help buyers identify the best fit for their needs and budget.
Related coverage from The Electric Viking
For more on Hyundai’s EV strategy and recent model updates, see Hyundai IONIQ 5: 2026 Model Year Changes and Price Cuts and Kia EV6 vs Hyundai IONIQ 5: Platform Twins Compared.
Key Specs
- Base Price: $35,250 (~AUD 49,761)
- SE RWD Price: $37,750 (~AUD 53,290)
- SEL Price: $40,200 (~AUD 56,749)
- XRT Price: $46,525 (~AUD 65,678)
- Limited Price: $49,125 (~AUD 69,348)
- EPA Range (SE Standard): 245 miles (~394 km)
- EPA Range (SE RWD): 318 miles (~512 km)
- US Launch Year: Late 2021
Source
Images sourced from: caranddriver.com, electrek.co
