Hyundai’s IONIQ 5 continues to be one of the most popular electric vehicles in the US, but its larger sibling, the IONIQ 9, may offer even more value for families needing extra space. With new lease deals available and recent price adjustments, buyers have more options than ever to consider.
Hyundai IONIQ 5 Remains a Top Seller
Through September, the Hyundai IONIQ 5 ranked as the third best-selling EV in the US, trailing only the Tesla Model Y and Model 3. It has outperformed competitors such as the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ.
The IONIQ 5 is recognized for its affordability, with a starting price of $35,250 (~AUD 50,675) for the 2027 SE Standard Range model. This version offers an EPA-estimated range of up to 245 miles (~394 km).
Lease Offers: IONIQ 5 vs IONIQ 9
Hyundai has responded to the expiration of the $7,500 federal EV tax credit by reducing prices on the IONIQ 5 by up to nearly $10,000 (~AUD 14,376) on some trims. The IONIQ 5 SE Standard Range is available to lease from $359 (~AUD 516) per month for 24 months, with $4,999 (~AUD 7,187) due at signing, resulting in an effective monthly cost of $567 (~AUD 815).
The extended-range SE RWD model starts at $37,750 (~AUD 54,269) and can be leased from $369 (~AUD 530) per month, also for 24 months with the same amount due at signing, for an effective cost of $577 (~AUD 829) per month.
Hyundai’s three-row IONIQ 9, starting at $58,955 (~AUD 84,754), is available to lease from $419 (~AUD 602) per month for 36 months with $4,999 (~AUD 7,187) due at signing, making the effective monthly cost $557 (~AUD 801). When comparing a 36-month lease for the IONIQ 5 SE with the same down payment, the effective cost is $550 (~AUD 791) per month—just $7 (~AUD 10) less than the larger IONIQ 9.
Space and Range: Key Differences
The IONIQ 5 is a midsize SUV with two rows and seating for five, offering up to 106.5 cubic feet (~3,017 liters) of interior passenger volume. In contrast, the IONIQ 9 provides three rows, six- or seven-seat configurations, and up to 163.54 cubic feet (~4,632 liters) of passenger space.
The IONIQ 9 also leads in range, with an EPA-estimated 335 miles (~539 km) for the base SE trim, compared to the IONIQ 5 SE’s 245 miles (~394 km) or 318 miles (~512 km) for the extended-range SE RWD.
How Does Tesla Compare?
The standard Tesla Model Y RWD is listed for lease starting at $499 (~AUD 717) per month for 36 months with $3,000 (~AUD 4,313) down, and offers an EPA range of up to 321 miles (~517 km). Using Tesla’s payment calculator, a 24-month lease with $4,999 (~AUD 7,187) down results in a monthly rate of $549 (~AUD 789).
Production and Market Impact
Both the IONIQ 5 and IONIQ 9 are manufactured at Hyundai’s Metaplant America facility near Savannah, Georgia. The IONIQ 5 achieved a 69.8% conquest rate last year, while the IONIQ 9 reached 64.3%, indicating strong appeal to buyers switching from other brands.
Why this matters
Hyundai’s aggressive pricing and lease offers make both the IONIQ 5 and IONIQ 9 compelling options for EV buyers in 2026. The close monthly lease costs between the two models mean families needing more space may find the IONIQ 9 a better value, while those prioritizing efficiency and a smaller footprint can still opt for the IONIQ 5.
With both models built in the US and available with competitive lease terms, Hyundai is strengthening its position in the American EV market.
What this means for buyers
Buyers should compare the effective monthly costs and consider their space and range needs before choosing between the IONIQ 5, IONIQ 9, and Tesla Model Y. Hyundai’s current lease offers are valid until November 30, 2026, so those interested should act soon to take advantage of these deals.
Key Specs
- 2027 Hyundai IONIQ 5 SE Standard Range Starting Price: $35,250 (~AUD 50,675)
- 2027 Hyundai IONIQ 5 SE Standard Range EPA Range: 245 miles (~394 km)
- 2027 Hyundai IONIQ 5 SE Extended Range RWD Price: $37,750 (~AUD 54,269)
- 2027 Hyundai IONIQ 5 SE Extended Range RWD EPA Range: 318 miles (~512 km)
- 2027 Hyundai IONIQ 9 Starting Price: $58,955 (~AUD 84,754)
- 2027 Hyundai IONIQ 9 EPA Range: 335 miles (~539 km)
- IONIQ 5 Interior Passenger Volume: 106.5 cubic feet (~3,017 liters)
- IONIQ 9 Interior Passenger Volume: 163.54 cubic feet (~4,632 liters)
Images sourced from: caranddriver.com, arenaev.com, electrek.co
