Massive $7k Gap Separates 2023 Hyundai Ioniq 5 And Kia EV6

Nov. 11, 2022 8:18 PM ET by Chase Bierenkoven Pricing / 2 Comments

Some restructuring has led to a price difference between two cars that were once close together.

A newly obtained order guide shows that the Hyundai Ioniq 5 is substantially cheaper than its corporate twin, the Kia EV6. Updated 2023 pricing shows that the cheapest EV6 starts at $49,795 and is now $7,050 more expensive than the most affordable Ioniq 5.

The cancellation of the EV6's cheapest trim factors in here. A few days ago, Hyundai announced it was axing the Light trim level, making the Wind the least expensive entry. That, plus the fact that both brands don't qualify for Biden's IRA tax credits, means these two popular EVs will be quite a bit more expensive come January 2023.

2022-2023 Hyundai Ioniq 5 Rear-Facing View

The order guide, obtained by CarsDirect, shows that the cheapest Ioniq 5 trim is the SE Standard Range, priced at $42,745. However, when Hyundai and Kia introduced the Ioniq 5 and EV6, respectively, the idea was that the pair would be corporate siblings with different body styles to help broaden the group's EV platform horizons.

Now, that's no longer the case. Frankly, it makes the argument for the EV6 Wind a bit tougher.

We called it the Goldilocks EV in our road test, and part of that verdict was the Wind's pricing compared to the rest of the market.

The cheapest SE Ioniq 5 will do 220 miles or so on a full charge, which is far less than the Wind's claimed 310 miles in RWD configuration. That's an extra 100 miles of range for roughly $7,000. Without official pricing guides from Hyundai, we don't know if EV6 buyers are getting more in the way of interior comforts for that money.

Thankfully, this saga might follow an established trend. A leaked order guide usually results in confirmed pricing from the manufacturer a few days later.

We expect a similar pattern here, and we'll be sure to compare and contrast the two now that they've been separated by a few thousand dollars.