The IONIQ 5 is making a comeback after sales jumped in the first quarter. Now, Hyundai is offering an $8,750 discount on all trims to sweeten the deal.

Hyundai slaps an $8,750 discount on the 2026 IONIQ 5

The IONIQ 5 was the fifth best-selling EV in the US last year, but after the $7,500 federal tax credit expired at the end of September, sales dropped 58% in the fourth quarter.

While many automakers are still reporting slower EV sales, the Hyundai IONIQ 5 is heating up again, recording its second consecutive record sales month in 2026 with 4,425 models sold in March.

Through the first three months of the year, the IONIQ 5 remains one of the most popular EVs in the US with nearly 9,800 units sold, up 14% from Q1 2025. That’s more than the Chevy Equinox EV (9,589) and Ford Mustang Mach-E (4,600), the only two non-Tesla EVs that were more popular in the US last year.

Hyundai, like many others, has been compensating for the loss of the $7,500 tax credit with its own discounts. After cutting prices on the 2026 IONIQ 5 by nearly $10,000 on some trims last year, Hyundai is upping the ante.

Through its new sales event, which started on April 1, Hyundai is offering up to $8,750 in total savings across all IONIQ 5 trims.

To take advantage of the savings, the vehicle must be financed through Hyundai Motor Finance with delivery by April 31, 2026.

If you’re looking to finance, the deal is even better. Hyundai is offering 0% APR financing for up to 72 months, plus an extra $3,000 off the 2026 IONIQ 5.

Hyundai’s three-row electric SUV, the IONIQ 9, is available with up to $10,000 in total savings or 0% APR financing for up to 72 months, plus an additional $3,000 off.

Hyundai IONIQ 5 Trim	Driving Range (miles)	2026 Starting Price	2026 Monthly Lease Price in March
IONIQ 5 SE RWD Standard Range	245 miles	$35,000	$259
IONIQ 5 SE RWD	318 miles	$37,500	$269
IONIQ 5 SEL RWD	318 miles	$39,800	$309
IONIQ 5 Limited RWD	318 miles	$45,075	$399
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

The 2026 Hyundai IONIQ 5 SE Standard Range is available to lease for as low as $259 per month. The offer is for 24 months with $3,999 due at signing. Upgrading to the SE RWD, with up to 314 miles of range, costs just $10 more per month at $269.

For those looking for something a little bigger, the three-row IONIQ 9 is listed with leases starting at $369 for 36 months with $4,999 due at signing.

2026 Hyundai IONIQ 5 Limited interior (Source: Hyundai)

Hyundai isn’t the only one offering big discounts on its top-selling EV. The 2026 Chevy Equinox EV is also available with up to $10,000 in total cash allowance, with leases starting at $259 per month.

With three new electric SUVs rolling out, Toyota is joining in with up to $7,000 in lease cash, or 0% interest for 72 months, plus a $3,500 cash incentive. Toyota has the 2026 bZ listed with monthly leases starting at $289.

Hyundai and Chevy deals end on April 30, 2026, while Toyota’s is extended until May 4. Some offers may be regional and vary by state (you can check local offers at the bottom). As more automakers release April incentives, we’ll keep you updated with the latest offers.

Ready to see what deals are available in your area? We can help you get started. You can click the links below to find offers closest to you.

• Hyundai IONIQ 5
• Hyundai IONIQ 9
• Chevy Equinox EV
• Toyota bZ