2018 Ioniq Electric Getting Up To $3,500 Price Increase

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - March 13, 2018

Even though the Hyundai Ioniq Electric is only offered in California, the 124-mile EV benefits from an unusual "subscription lease" offering unlimited mileage, charging reimbursements and free routine maintenance.

However, the latest pricing documents show the 2018 model is set to receive a $3,500 price increase on the range-topping Limited. Here's a look at what's behind the increase and whether or not that should stop you from buying.

More Equipment

On the surface, the 2018 Ioniq Electric looks like merely a carryover of last year's car. The entry-level model will continue to have a range of 124-miles and a starting price of $30,385 including destination.

Similarly, the Limited looks largely unchanged on the surface, but now features an MSRP of $36,885, $3,500 more than last year's sticker price of $33,385.

So what's behind the increase?

In this case, the answer is simply that Hyundai has made a number of features that used to be optional in the Limited Ultimate standard in the Limited. The $3,500 lines up exactly with the cost of last year's Limited Ultimate Package.

Hyundai says the model was "simplified," but what this really means is that a number of advanced extras now come bundled by default in the Limited. Some of the more notable features include:

    • automatic emergency braking
    • blind spot detection
    • lane departure warning with lane-keeping assist
    • adaptive cruise control
    • leather interior
    • power sunroof
    • Infinity audio system

As a result, there's now a $6,500 difference in price between the Base and Limited, with no option to choose a mid-level trim.

Should that stop you from buying? Not necessarily.

Big Step Up

The 2018 Ioniq Electric Base comes pretty well-equipped with features like DC fast charge capability, 16" alloys, heated front seats, automatic climate, LED taillights, a 7" touchscreen with Android Auto and Apple CarPlay and more.

Special offers on the 2018 model haven't been announced. For reference, the 2017 version starts at $275 for 36 months with $2,500 at signing, with the assumption that lessees will be eligible for the $2,500 Clean Vehicle Rebate to effectively turn this into a $0 down lease.

The Limited is positioned at $305/month, just $30 more than the Base, while the Ultimate starts quite a bit higher at $365. For those keeping track, that's a $90/month difference in price between the base model and top-level trim.

If you're planning to drive a ton, the Ioniq EV can equate to an outstanding value when leased since there isn't a traditional mileage constraint. However, shoppers should be prepared for just two options to choose from for 2018: a base model and one loaded with everything.

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Twitter | Website