Hyundai IONIQ 5 Tops 31,000 US Sales in 2026 Despite Federal Tax Credit Expiry
Summary
Hyundai sold 31,112 IONIQ 5s through September 2026, down 24% year over year but still ahead of rivals like the Chevy Equinox EV and Toyota bZ. The strong showing comes after Hyundai cut 2026 IONIQ 5 prices by up to $9,800 to offset the loss of the $7,500 federal EV tax credit.
The Hyundai IONIQ 5 is still one of the EVs Americans are buying the most, with more than 31,000 sold through September.
Hyundai IONIQ 5 ranks among America’s top-selling EVs
After the $7,500 federal tax credit expired last September, most automakers reported fewer EV sales than a year ago as buyers rushed to claim the credit, Hyundai included.
Hyundai responded shortly after by reducing the price of the 2026 IONIQ 5 by up to $9,800 on some trims.
While sales are still down this year, Hyundai’s electric SUV has fared better than most. Hyundai sold 2,928 IONIQ 5s in the third quarter, down 65% from the more than 8,400 it moved in Q3 2025.
Through the first nine months of 2026, Hyundai sold 31,112 IONIQ 5s, 24% fewer than last year, when the $7,500 tax credit was still available.
Earlier today, GM reported that sales of its best-selling EV, the Chevy Equinox EV, plunged 92% year over year, with just 1,902 sold in the third quarter. Through September, Chevy Equinox EV sales totaled 18,154, or nearly 13,000 fewer than the IONIQ 5 during the same period.
The Hyundai IONIQ 5 also remains ahead of Toyota’s new electric SUV, the bZ, which has suddenly become a top-selling EV in the US after the updated model went on sale in late 2025.
Toyota sold nearly 25,000 bZs through September, still less than the IONIQ 5. Both start at about $35,000, offer over 300 miles of range, and include a NACS port.
Which one is better? Well, it depends on what you’re looking for. The bZ has more of a standard SUV feel, while the IONIQ 5 offers a high-tech, faster-charging, and more powerful option.
The cheapest 2027 Hyundai IONIQ 5 SE Standard Range starts at $35,250 and offers up to 245 miles of range. Upgrading to the extended-range SE RWD model costs an extra $2,500, but offers up to 318 miles of range.
| Hyundai IONIQ 5 Trim | Driving Range (miles) | 2027 Starting Price* |
| IONIQ 5 SE RWD Standard Range | 245 miles | $35,250 |
| IONIQ 5 SE RWD | 318 miles | $37,750 |
| IONIQ 5 SEL RWD | 318 miles | $40,200 |
| IONIQ 5 Limited RWD | 318 miles | $45,225 |
| IONIQ 5 SE Dual Motor AWD | 290 miles | $41,250 |
| IONIQ 5 SEL Dual Motor AWD | 290 miles | $44,700 |
| IONIQ 5 XRT Dual Motor AWD | 259 miles | $46,525 |
| IONIQ 5 Limited Dual Motor AWD | 269 miles | $49,125 |
The lowest-priced 2027 Toyota bZ XLE FWD trim starts at $34,980 with up to 236 miles of range.
Like the IONIQ 5, it may be worth upgrading to the XLE FWD Plus model, which starts at $37,980 and offers up to 314 miles of range.
Wondering what’s available near you? You can use the links below to find available Hyundai IONIQ 5 and Toyota bZ models near you, along with any current offers.
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