Federal EV tax credits ended a few days ago, which led to a buying frenzy as people rushed to grab an electric model before the incentives expired. Hyundai’s EVs were not eligible for the credits due to their foreign build locations and other factors, but it offered deep incentives to compensate. The automaker will continue offering discounts going forward, even as the tax credits disappear, as it recently announced significantly lower prices for the 2026 Ioniq 5. Hyundai extended its in-house $7,500 discount through October for 2025 model-year EVs, but the upcoming Ioniq 5 lands with price cuts that reach $9,800 on some variants. All models saw a price decrease, with the entry-level SE Standard Range RWD trim seeing the smallest cut, at $7,600.