The IONIQ 5 is a hot seller right now, and Hyundai dealers are reportedly running out of inventory.

Hyundai IONIQ 5 inventory dries up at several dealers

Since its launch in 2021, the IONIQ 5 has become a huge success, consistently ranking among the most popular electric vehicles.

In 2025, Hyundai took things up a notch, introducing the first US-built model with improvements in nearly every area.

The updated Hyundai IONIQ 5 features a bigger battery that provides an EPA-estimated range of up to 318 miles, added features, a refined interior and exterior design, and it was among the first non-Tesla EVs to get an NACS port.

After the federal tax credit expired last September, Hyundai responded by reducing prices on the 2026 IONIQ 5 by nearly $10,000 on some trims.

The price cuts “reflect Hyundai’s commitment to affordability and its long-term strategy,” the company said.

So far, the upgrades and lower prices are paying off. The IONIQ 5 was the best-selling EV outside of Tesla in the US in the first half of the year, ranking third overall.

2026 Hyundai IONIQ 5 (Source: Hyundai)

While the IONIQ 5 is a hot seller right now, several dealerships are reportedly running out of inventory. In a recent video, YouTuber TheIoniqGuy claims several situations where buyers have put down payments on a new IONIQ 5 because none are available on the lot.

Interestingly, a quick search on Hyundai’s website or EVfinder.com shows plenty of inventory, but the IONIQ 5s are apparently not on dealer lots.

2026 Hyundai IONIQ 5 (Source: Hyundai)

Several Hyundai dealers have run out of inventory. Vermont’s WCAX news reported a few weeks ago that Burlington Hyundai ran out of IONIQ 5s and now has EV buyers on a waitlist. Stevinson Hyundai in Fredrick, CO, is facing the same situation.

An affordable electric SUV that checks all the boxes

Why is the IONIQ 5 a hot seller all of a sudden? For one, higher gas prices are leading buyers to consider more efficient options.

Although EV sales are still recovering in the US from last year’s policy changes, KBB estimates over 247,000 electric vehicles were sold in the US in Q2 2026, a 14.7% improvement from the first quarter.

2026 Hyundai IONIQ 5 interior (Source: Hyundai)

Another reason could be that current EV owners are looking to upgrade. With 2023 and 2024 model year vehicle leases ending, buyers are looking for the latest tech and features.

When we had the chance to tour Hyundai’s Metaplant in April, the company told Electrek that the IONIQ 5 is attracting new customers to the brand with higher conquest rates than its gas and hybrid vehicles.

Hyundai’s electric vehicle conquest rates (Source: Peter Johnson/ Electrek/ Hyundai)

The IONIQ 5 had a 69.8% conquest rate last year, while the three-row IONIQ 9 had a 64.3% conquest rate. It even had the highest conquest rate in the 2-row SUV segment.

Starting at $35,000, the Hyundai IONIQ 5 is one of the most affordable electric vehicles on the market, so that helps too.

While the Toyota bZ and Chevy Equinox EV are about the same price, Hyundai’s incentives make the IONIQ 5 a bit cheaper. Since the IONIQ 5 is built in the US, Hyundai is now able to pass the savings on to buyers.

The interior of the 2026 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai has been offering 0% APR financing rates, thousands off in Retail Bonus Cash, and monthly leases starting under $300 for several months now.

Through its Getaway Summer Sales Event, which runs through Labor Day, Hyundai is currently offering 0% APR financing for up to 72 months, plus an extra $1,000 off the 2026 IONIQ 5 and 0 payments for 90 days.

2026 Hyundai IONIQ 5 Trim	Driving Range (miles)	Starting Price*	2026 Monthly Lease Price in July
IONIQ 5 SE RWD Standard Range	245 miles	$35,000	$269
IONIQ 5 SE RWD	318 miles	$37,500	$279
IONIQ 5 SEL RWD	318 miles	$39,800	$319
IONIQ 5 Limited RWD	318 miles	$45,075	$409
IONIQ 5 SE Dual Motor AWD	290 miles	$41,000	$339
IONIQ 5 SEL Dual Motor AWD	290 miles	$43,300	$379
IONIQ 5 XRT Dual Motor AWD	259 miles	$46,275	$419
IONIQ 5 Limited Dual Motor AWD	269 miles	$48,975	$469

2026 Hyundai IONIQ 5 prices, range, and monthly lease price by trim (*Does not include $1,600 destination fee)

Separately, the 2026 IONIQ 5 is available to lease for as low as $269 per month for 24 months with $3,999 due at signing. For $10 more, or $279 a month, you can upgrade to the longer-range version with an EPA-estimated driving range of up to 318 miles.

That’s about as cheap a monthly lease as you can find nowadays, whether electric or gas-powered.

Who would have thought that an affordable electric SUV with decent range, fast charging, and modern tech would sell?

Some dealerships are running low, while others still have plenty of inventory. You can click here to see local offers and find available Hyundai IONIQ 5 models near you (trusted partner link).