Hyundai, the South Korean automaker, is continuing its attractive discount offerings for the popular Ioniq 5 and Ioniq 6 electric vehicles (EVs) in the United States. In its latest move, Hyundai is targeting existing Hyundai owners in the US by offering a substantial $2,500 discount, as revealed in a dealer bulletin obtained by Cars Direct. Effective from June 28, this discount, known as the Valued Owner Coupon, is available for all versions of the 2023 Hyundai Ioniq 5 and Ioniq 6.
This loyalty discount is designed to incentivize existing Hyundai owners and can be combined with other purchasing and leasing incentives. For those considering leasing an Ioniq 5 or Ioniq 6, the loyalty discount is in addition to the existing $7,500 lease incentive, resulting in a maximum discount of up to $10,000.
To qualify for this sizable discount, prospective buyers must already own a Hyundai vehicle and meet the eligibility requirements for the federal tax credit. For customers who prefer to purchase rather than lease, the $2,500 loyalty discount can be combined with a $5,000 Retail Bonus Cash incentive introduced earlier this month, potentially resulting in total savings of up to $7,500.
However, it should be noted that while the $2,500 loyalty discount is available for all trims of the Ioniq 5 and Ioniq 6, the $5,000 purchase incentive is only applicable to the SE and SEL trims of both models. Therefore, if you are interested in purchasing an Ioniq 5 Limited or Ioniq 6 Limited, leasing would be a more favorable option in terms of cost savings.
This loyalty discount marks the third deal announced by Hyundai USA for the Ioniq 5 and Ioniq 6 EVs in the past month, reflecting the intensifying competition in the electric vehicle market. Hyundai previously lowered lease prices by $70 per month in late May, taking advantage of a tax credit loophole. In early June, the automaker introduced a $5,000 rebate for the Ioniq 5 and later extended a similar offer for the Ioniq 6. Now, with the addition of the $2,500 loyalty discount, these discounts represent the largest savings opportunities to date on the Ioniq 5 and Ioniq 6 models.
Given the significant changes and attractive incentives offered by Hyundai in just one month, it raises curiosity about what the automaker has in store for vehicle shoppers in anticipation of the upcoming July Fourth holiday.
