Hyundai introduces Ioniq 6 cash rebate to sway Tesla Model Y, Model 3 buyers with US$5,000 off

Hyundai has missed out on the US federal electric vehicle tax incentives since the introduction of the Inflation Reduction Act back in April of 2023, which has put a bit of a damper on the Korean marque's electric vehicle portfolio. The IRA tax incentives have put EV makers that qualify far ahead of their competition that don't. On top of that, the Hyundai Ioniq 6 doesn't seem to be doing the numbers Hyundai might have though it would, underselling its Ioniq 5 sibling significantly in early 2023.

The US$5,000 cash rebate applies to Ioniq 6 SE and SEL vehicles bought with cash in the US, and brings the price of the SE Standard Range to US$36,600, while the SE trim with the larger battery comes in at US$40,500, and the Ioniq 6 SEL starts at US$42,500. The SE Standard range has an EPA range rating of 240 miles, and the SE RWD and AWD each claim 361 miles and 316 miles respectively. The Ioniq 6 SEL, on the other hand, purports to deliver 305 miles in the RWD trim and 270 miles in the AWD trim.

Tesla's closest competitor to the Ioniq 6 is the Tesla Model 3, which starts at US$32,740 and delivers 272 miles of range, making the Ioniq 6 a tough sell, even after the cash rebates. If you're of the mind that owning a Tesla isn't for you, or you don't qualify for the federal tax credits for other reasons, it does a good job of softening the blow slightly.

Hyundai's Ioniq 6 cash rebate offers only apply until July 5, 2023 for in-stock vehicles rather than orders.

Buy the CHGeek 15W fast charging car phone mount on Amazon.