Falling Prices, Hyundai Ioniq 5 Challenges Tesla Model Y

Hyundai has reduced the price of its Ioniq 5 by 5,000 euros to make it eligible for the eco bonus ! Enough to compete with the Tesla Model Y ?

This discount applies to models deliverable before the end of the year. The prospect of losing the eco bonus in 2024 has certainly frightened the Korean manufacturer, who is eager to sell off its stock. Ultimately, it’s a price reduction of 10,000 euros when combining the discount and the bonus, making Hyundai a more than credible rival.

€45,990 for the Tesla Model Y Propulsion and €45,400 for the Hyundai Ioniq 5 Intuitive. The match is on!

Almost identical in size, these two models could very well belong in the same category. However, their styles are quite different! The Model Y features the immediately recognizable stylistic signatures of the Model 3. This makes sense considering that both Teslas share the same technical platform and nearly 75% of their parts. The design of the Hyundai is more angular but still quite modern. Inspired by the Concept EV 45, it aims for a retro-futuristic look with classic overall lines but numerous futuristic details such as the headlights or the diagonal break on the side, which disrupts the design.

Both are designed for family comfort. The trunks are enormous, and no one will feel cramped in the back. Two well-designed cars with remarkably good finishes. While Tesla emphasizes minimalism, the interior of the Korean model is more traditional but free of frills. A two-spoke steering wheel, a huge screen, and a few climate controls are all there is.

Trend or style?

Up to now, Hyundai has held its own honorably, but once on the road, the competition tightens again. In this Propulsion configuration, the Model Y is neither the fastest nor the most responsive, but it still manages 0 to 100 km/h in 6.9 seconds and a top speed of 217 km/h. Hyundai can only do 7.3 seconds from a standstill and its top speed is limited to 185 km/h. Honestly, maximum speed is no longer, and especially should no longer be, a decision criterion, and the half-second difference in acceleration is insignificant for these electric cars with linear acceleration. Both weigh around 1900 kg—give or take—ending this “no contest” on a technical note.

The remaining consideration is range, and with 545 km in mixed WLTP cycle thanks to its new 77.4 kWh battery introduced mid-2022, the Ioniq 5 performs respectably and rivals the 515 km claimed by Tesla. Matching, or even surpassing, Tesla on this front—where it excels—is truly impressive. And perhaps the final decision between these two models will come down to a simple matter of heart?

In conclusion

Tesla Model Y will not be rendered obsolete by Hyundai. However, Hyundai could pose serious competition, offering a serious alternative for customers attracted by its originality.

READ ALSO > Hyundai cuts the prices of Ioniq 5 and 6 to take advantage of the bonus!