Hyundai has increased prices of its Ioniq 5 ahead of a mid-life update due around mid-year.

    After slashing the cost of entry by $7500 in September 2023 and then slightly increasing the price of some models by $500 in December, Hyundai has increased prices by $2500 on all variants – apart from the N, which we’ve covered separately.

    UPDATE, 19/06/2024 – Hyundai has confirmed price increases for the Ioniq 5 for 2024. We’ve updated this article and brought it forward.

    The price rises, which came into effect on May 1, coincide with a change in the sales process. You’re now able to order an Ioniq 5 through more than 100 Hyundai dealerships that sell electric vehicles (EVs).

    The Ioniq 6 is also now available for purchase through these dealerships, though it’s only been subject to a $1000 price increase.

    Previously, the Ioniq 5 and Ioniq 6 were only sold online.

    For 2024, the Ioniq 5 received a heat pump HVAC system, along with battery heating and pre-conditioning. The new features are designed to make the Ioniq 5 more efficient in a broader range of conditions.

    Hyundai said last year that, due to stronger supply, it expected to sell up to 4000 cars with Ioniq badges in 2024, around two third of which will be the Ioniq 5.

    To the end of May, it has sold 477 Ioniq 5s and 199 Ioniq 6s.


    Hyundai Ioniq 5 Standard Range RWD$67,500 (+$2500)
    Hyundai Ioniq 5 Extended Range RWD$73,500 (+$2500)
    Hyundai Ioniq 5 Dynamiq Extended Range RWD$78,500 (+$2500)
    Hyundai Ioniq 5 Epiq Extended Range RWD$82,000 (+$2500)
    Hyundai Ioniq 5 Dynamiq Extended Range AWD$83,000 (+$2500)
    Hyundai Ioniq 5 Epiq Extended Range AWD$86,500 (+$2500)

    All prices exclude on-road costs.


    Standard Range RWDSingle-motor rear-wheel drive125kW350Nm
    Extended Range RWDSingle-motor rear-wheel drive168kW350Nm
    Extended Range AWDDual-motor all-wheel drive239kW605Nm


    BatteryWLTP range
    Standard Range RWD53kWh li-ion384km
    Extended Range RWD77.4kWh li-ion507km (19-inch wheels)
    476km (20-inch wheels)
    Extended Range AWD77.4kWh li-ion454km

    Across the range, the Ioniq 5 features V2L technology that allows owners to run home appliances off the charge port using an adapter. There’s also a three-pin plug in the rear that means passengers can charge laptops using the car’s battery.

    The e-GMP platform supports DC fast charging at up to 230kW using a 350kW public charger.


    Hyundai Ioniq 5
    Width1890mm (excluding mirrors)
    Boot space527L
    Under-bonnet storage57L (RWD models)
    25L (AWD models)

    The Ioniq 5 also has a 9.4L sliding glovebox.

    Servicing and Warranty

    The Ioniq 5 is backed by a five-year, unlimited-kilometre vehicle warranty plus an eight-year, 160,000km high-voltage battery warranty.

    Servicing is required every 24 months or 30,000 kilometres, whichever comes first. The first three services are capped at $610, $1175 and $610, respectively.


    The Hyundai Ioniq 5 has a five-star safety rating from ANCAP, which is based on testing conducted in October 2021.

    It earned its five-star rating on back of a 88 per cent score for adult occupant protection, 87 per cent for child occupant protection, 63 per cent for vulnerable road user protection, and 89 per cent for safety assist.

    Standard safety equipment across the Ioniq 5 range includes:

    • Seven airbags
    • Blind-spot assist
    • Driver attention warning
    • Leading vehicle departure alert
    • Lane-keep assist
    • Lane Following Assist (lane centering)
    • Surround-view camera
    • Front and rear parking sensors
    • Rear cross-traffic alert
    • Rear occupant alert
    • Safe exist assist
    • Adaptive cruise control with stop & go, and machine learning
    • Tyre pressure monitoring
    • Rear autonomous emergency braking (AEB)

    The frontal autonomous emergency braking (AEB) feature, which Hyundai calls Forward Collision-Avoidance Assist, includes the following functionality:

    • Car, pedestrian and cyclist detection
    • Junction turning and crossing assist
    • Lane-change oncoming and side assist
    • Evasive steering assist

    Standard Equipment

    Standard equipment on the Hyundai Ioniq 5 includes:

    • 19-inch alloy wheels
    • Automatic headlights
    • Automatic windscreen wipers
    • Heated, power-folding mirrors
    • Wool/yarn and leather seat trim
    • Leather-wrapped steering wheel trim
    • Power-adjustable driver’s seat
    • 12.3-inch digital instrument cluster
    • 12.3-inch touchscreen infotainment system
    • Apple CarPlay and Android Auto (wired)
    • Satellite navigation
    • Wireless phone charger
    • 2x USB-A ports front, 2x USB-A ports rear
    • Dual-zone climate control
    • Heat pump HVAC system
    • Portable charging cable
    • Trailer pre-wiring package

    Moving to the Dynamiq brings:

    • 20-inch alloy wheels
    • Rear privacy glass
    • Power tailgate
    • Leather seat trim
    • Heated front seats
    • 10-way power passenger seat
    • Sliding centre console
    • Bose surround sound system (8-speaker)
    • Head-up display with AR mode

    Moving to the Epiq brings:

    • Fixed glass panoramic roof with powered sunshade
    • Premium front seats with full recline while charging
    • Power sliding rear seats
    • Rear door sunshades
    • Ventilated front seats
    • Heated rear seats
    • Heated steering wheel

    Optional on the Epiq is the Digital Mirror Pack. It’s priced at $3000, and brings digital side mirrors and a digital centre mirror.

    MORE: Hyundai Ioniq 5 review
    MORE: Compare Hyundai Ioniq 5 variants
    MORE: Everything Hyundai Ioniq 5

    Scott Collie

    Scott Collie is an automotive journalist based in Melbourne, Australia. Scott studied journalism at RMIT University and, after a lifelong obsession with everything automotive, started covering the car industry shortly afterwards. He has a passion for travel, and is an avid Melbourne Demons supporter.

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