Hyundai is keeping the IONIQ 5 near the affordable end of the U.S. electric vehicle market for 2027, with only modest price increases across most of the lineup.
No pricing for the Canadian market has been revealed.
According to new order guide data obtained by Cars Direct, the 2027 Hyundai IONIQ 5 will start at $35,250 in the U.S. This price is before destination fees, and is an increase of just $250 compared to the 2026 model.
That price gets buyers the rear-wheel drive SE Standard Range, which carries an EPA-estimated 245 miles (394 km) of range. Buyers looking for more range can step up to the SE RWD for $37,750, which increases estimated range to 318 miles (512 km).
The SEL RWD receives one of the larger increases for 2027, climbing $400 to $40,200. The dual-motor AWD version of the SEL sees a more significant jump, rising from $43,300 to $44,700. Meanwhile, the off-road-focused XRT AWD increases $250 to $46,525, while the Limited AWD tops out at $49,125.
Despite the increases, the IONIQ 5 remains competitively priced against Tesla’s Model Y. The entry-level Model Y RWD currently starts at $39,990 in the U.S., putting it $4,740 above the base IONIQ 5. However, the Tesla offers significantly more range at 321 miles (516 km). Comparing it with the 318-mile (512 km) IONIQ 5 SE RWD narrows Hyundai’s price advantage to $2,240.
Changes beyond pricing are relatively minor for 2027. According to Cars Direct, roof rails will become available across the lineup and standard on SEL trims and above, while HomeLink will be limited to the Limited trim. Hyundai is also dropping Gravity Gold Matte and Sage Silver Matte from the colour palette.
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