Demand for Hyundai’s best-selling EV continues to climb. The Hyundai IONIQ 5 set a new August US sales record ahead of the updated 2025 model, which will arrive at dealerships this fall.
Hyundai IONIQ 5 drives record US August sales
“This was a record-setting August for Hyundai in total and retail sales,” Hyundai America CEO Randy Parker announced Wednesday.
Hyundai had its best-ever total and retail August sales month in the US, with 79,278 vehicles sold, up 22% from last year. Hybrids led the retail sales growth, climbing 81%, while retail EV sales were up 27%.
The growth comes after Kia, Hyundai’s sister brand, broke its US sales record in August for the second straight month.
Hyundai’s IONIQ 5 set a new August record, with retail sales surging 74%. Hyundai sold 4,838 IONIQ 5 models in the US last month, bringing the total to nearly 27,000 through August 2024, up 26% from the 21,348 sold last year.
The electric SUV continued seeing higher demand despite the updated 2025 model launching later this fall.
Hyundai unveiled the new 2025 IONIQ 5 this week with more range, a revamped design, a new off-road XRT trim, and a Tesla NACS port.
It will be the first Hyundai built at its massive new Metaplant America facility in Georgia. Hyundai said the US-built 2025 IONIQ 5 will initially qualify for a $3,750 tax credit, but once the battery production begins, it expects it to be eligible for the full $7,500.
Until then, Hyundai will still pass the credit on through leasing. With the 2025 model arriving at dealerships this fall, Hyundai’s 2024 IONIQ 5 is one of the best SUV deals on the market.
The 2024 IONIQ 5 SEL is offered with up to $14,500 in incentives. Starting at $47,400, the IONIQ 5 is already one of the most affordable electric SUVs in the US with over 300 miles range.
2024 Hyundai IONIQ 5 trim
Starting Price (excluding destination fee)
Range (EPA est miles)
SE Standard Range
$41,800
220
SE
$45,850
RWD: 303 AWD: 260
SEL
$47,400
RWD: 303 AWD: 260
Limited
$53,500
RWD: 303 AWD: 260
Disney100 Edition
$59,400
260
2024 Hyundai IONIQ 5 prices and range by trim
Nearly $15,000 in incentives is hard to pass up, but the savings won’t last long. If you’re ready to take advantage of the deals, we can help you get started today. You can use our link to view offers on the 2024 Hyundai IONIQ 5 in your area.
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On today’s festive episode of Quick Charge, Tesla steps up for its owners by calling in mobile charging stations to cut down on wait time. Meanwhile Hyundai has some extra goodies for your stockings and Texas is cleaning up its act.
We’ve also got big savings for Toyota bZ4X and Subaru Solterra shoppers, as well as some good environmental news in the form of new solar and wind projects coming online at a record clip, and a dirty Texas mine that’s cleaning up its act.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!
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Dodge is rolling out a hefty discount on the 2025 Charger Daytona EV even though it hasn’t officially hit the market yet. According to a dealer bulletin, the 2025 Daytona EV qualifies for a juicy $3,000 discount, but you won’t see it advertised anywhere. Here’s how you could snag this deal and save big.
On December 13, Stellantis introduced the BEV Dealer Cash Coupon Program, an incentive program designed to sweeten the deal on electric Dodge models. Under this program, dealers get a $1,000 cash coupon for the Charger Daytona – and here’s the kicker – they can stack up to three of these coupons for a total of $3,000 in savings. Unlike traditional rebates that go directly to the buyer, dealers have the option to keep the incentive as extra profit.
The program covers both the 2024 and 2025 Dodge Charger Daytona EVs for purchases and leases. But there’s more: if you’re leasing, you can stack that $3,000 dealer cash with a $7,500 lease incentive tied to a commercial tax credit (unavailable when buying). Add it all up, and you could score a whopping $10,500 in savings. This deal is slated to end on April 30, 2025, so there’s time to plan your move.
For some context, the 2024 Dodge Charger EV starts at $61,590, including destination fees. With $10,500 in potential savings, that’s an impressive 17% discount off MSRP—and that’s before you factor in any additional dealer discounts. Interestingly, Dodge has a higher-than-usual difference between invoice and MSRP pricing on the Daytona, meaning there’s room for negotiation if you’re savvy.
Of course, there are a few things to watch out for. Dealer participation varies, so your results may depend on where you shop. Plus, Dodge hasn’t released pricing for the 2025 Charger Daytona yet, so there’s some guesswork involved. Still, if you’re hunting for a bargain, the 2024 Charger EV stands out as one of the best financing deals right now, offering 0% interest for up to 72 months.
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Toyota’s electric SUV may soon get a fresh start. After a rocky debut, the Toyota bZ4X is reportedly due for a rebrand, with a new name coming as soon as 2026.
Is Toyota giving the bZ4X a new name?
After launching the bZ4X in 2022, Toyota’s first electric SUV had a bumpy market debut. In June 2022, all bZ4X models were recalled over concerns that the wheels could fall off.
Since then, Toyota has struggled to gain traction. Through the first nine months of 2024, Toyota sold 13,577 bZ4X models in the US. Although that’s double the roughly 6,500 sold through Q3 2023, it’s still less than 1% of its over 1.7 total vehicles sold through September.
As Toyota looks to turn things around, the bZ4X is due for a complete rebrand. Speaking at a recent auto press event in Quebec, a regional director for Toyota Canada said the company is preparing to change the bZ4X name.
According to Motor Illustrated, Patrick Ryan, Toyota’s regional director for Quebec and Atlantic Canada, said the name change will occur over the next year.
Toyota just revealed the 2025 bZ4X last week, so it will likely be for the 2026 model year. Prices for the 2025 Toyota bZ4X start at $37,070 in the US, or $6,000 less than the outgoing model. The FWD model has an EPA-estimated range of up to 252 miles, while the AWD trim has a range of up to 222 miles.
Toyota promotes its bZ branding as “beyond Zero” in reference to EVs cutting emissions. Meanwhile, the “4” determines its format (think RAV4), and the X tells us it’s a crossover.
In the US, all Toyota vehicles are badged with an actual name other than the RAV4 and bZ4X. A new name may make sense since bZ4X is a bit of a tongue twister and had a less-than-favorable reception.
After unveiling its new Urban Cruiser electric SUV earlier this month, will Toyota follow a similar route with the bZ4X? Although its first three-row electric SUV is now delayed until 2026, we could see a completely different naming system rollout.
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