Hyundai hasn’t benefited from US federal tax incentives for EVs since the Inflation Reduction Act was introduced in April 2023, which has dampened the Korean brand’s EV portfolio somewhat. The IRA’s tax incentives have allowed qualified electric vehicle manufacturers to gain an edge over unqualified competitors. Also, the Hyundai Ioniq 6 does not seem to reach the numbers expected by Hyundai, as it significantly undercut its brother Ioniq 5 at the beginning of 2023.
The $5,000 rebate applies to Ioniq 6 SE and SEL vehicles purchased with cash in the US, raising the price of the standard SE lineup to $36,600 while the SE version comes with the largest battery is offered for $40,500 and the Ioniq 6 SEL starts at $42,500. The SE Standard line has a range of 240 miles, according to the EPA, while the SE RWD and AWD claim 361 miles and 316 miles, respectively. The Ioniq 6 SEL is said to have a range of 305 miles in the RWD version and 270 miles in the AWD version.
Tesla’s Biggest Competitor The Ioniq 6’s biggest competitor is the Tesla Model 3, which starts at $32,740 and offers a range of 272 miles, making the Ioniq 6 a hard-to-sell model even after discounts. If you think a Tesla isn’t for you, or if you don’t qualify for state tax credits for other reasons, the Ioniq 6 can soften the blow a bit.
Cash rebate offers for the Hyundai Ioniq 6 are only valid until July 5, 2023 for in-stock vehicles and not for orders.
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