2025 Hyundai IONIQ N Has A $20,000 Markup

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - March 27, 2024
2025 Hyundai IONIQ 5 N EV white color rear view

It took less than a day for at least one Hyundai dealer to begin marking-up the 2025 IONIQ 5 N. Our investigation found that a dealer in Ontario, California already has a $20,000 markup on Hyundai's newest and most powerful EV. This type of early Hyundai IONIQ 5 N markup over MSRP can push prices to nearly $90,000.

We first learned of this 2025 IONIQ 5 N markup today in a post on the r/Ioniq5 subreddit. The self-described "Nfluencer" claimed that the Ontario Hyundai dealer justified the $20,000 market adjustment based on the vehicle being "exotic." Furthermore, the salesperson allegedly claimed that "corporate made the decision."

At $67,475, the IONIQ 5 N's MSRP isn't cheap but represents a surprising bargain based on its performance. Hyundai says that the EV's dual electric motors can produce up to 641 horsepower with a 0-60 mph acceleration time of just 3.25 seconds. This could enable the car to essentially have supercar-like acceleration.

2025 Hyundai IONIQ 5 N dealer markup addendum market adjustment photo

But is it worth $20,000 over MSRP? That may depend on just how much you want one. It's important to keep in mind that dealers set prices, not manufacturers. It's also not unusual for new, limited-production vehicles to have addendums based on supply & demand. In other words, a $20,000 markup could be justified.

So is this dealer going too far? We reached out to a salesperson at Ontario Hyundai to confirm that the car arrived today and already has a markup. The dealer also claimed that the car is still available, suggesting that they haven't had a taker — at least, not yet — for the nearly $90,000 Hyundai model.

The 2025 Hyundai IONIQ 5 N will likely be a rare sight for the time being. According to the representative we spoke with, the dealer is expecting just one more IONIQ 5 N to arrive and not until late April. If the information can be trusted, this level of availability could embolden dealers to charge IONIQ 5 N markups.

Conversely, Hyundai has taken an extremely aggressive approach with EV prices in recent weeks. The 2024 IONIQ 5 N has a $213 lease deal that marks the best price to date. Days later, the brand launched a $169 Kona EV lease deal and a $239, zero-down IONIQ 6 lease that makes it the cheapest lease in America.

Explore Hyundai IONIQ 5 N Prices

, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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