Hyundai slashes EV lease prices on the IONIQ 5 and IONIQ 6 following Tesla

Lower-priced electric cars are on the way. Hyundai is slashing EV lease prices on the IONIQ 5 and IONIQ 6, offering some of the cheapest rates since launching.

Hyundai looks to keep the momentum rolling as the EV price war intensifies. According to a new bulletin sent to dealers recently (via CarsDirect), Hyundai is making it cheaper to lease an EV.

The automaker cut IONIQ 5 and IONIQ 6 EV lease prices by $50 a month. Lease deals now start at around $229 per month, the lowest we’ve seen so far.

According to Hyundai’s website, the 2023 Hyundai IONIQ 6 SE standard range can be leased for as low as $229 per month with $5,006 due at signing. (This includes a $7,500 EV lease bonus.) The IONIQ 6 SE is available for $299 per month, with $4,999 due.

At $229 per month, the IONIQ 6 is even cheaper to lease monthly than the Hyundai Kona Electric at $269 (with $3,999 due at signing).

The 2023 Hyundai IONIQ 5 SE is available for $299 per month with $5,159 down. Meanwhile, you can score the IONIQ 5 SEL for $414 a month with $5,005 at signing.

Hyundai cuts EV lease prices days after Tesla

Hyundai cutting EV prices comes days after Tesla slashed lease prices of its own. Tesla cut lease prices on the Model 3 by up to $100 a month to $329 with $5,524 down.

The price cuts made Tesla’s Model 3 cheaper than the IONIQ 6 by $6 per month. Hyundai made sure to undercut the electric sedan to lure buyers.

In fact, the IONIQ 6 is now cheaper to lease per month than the Toyota Corolla Hybrid ($458) and Hyundai Elantra Hybrid ($458), according to the report.

Hyundai EVs also include better buying incentives, including a $7,500 rebate on SE and SEL trims. The Limited trim now includes a $2,500 rebate for the first time.

Hyundai’s electric vehicles have been gaining momentum in the US all year. The automaker set a September record with EV sales soaring 203%. Hyundai sold a record 11,665 IONIQ 5 electric SUVs in Q3, up 142% YOY.

The automaker is offering a new promo to purchase or lease a 2023 IONIQ 5 or IONIQ 6. Hyundai is giving a free ChargePoint L2 Home Flex EV charger (valued at $549 MSRP) and a $600 installation credit until the end of October.

Are you ready to take advantage of Hyundai’s lowest lease price offers yet? You can use our links below to find a great deal on Hyundai’s EVs at a nearby dealer.