Hyundai backs Aussie future of IONIQ 5 and 6 despite poor sales

Despite being stuck in the slow lane for sales and the arrival of cheaper China-sourced in-house and external competition, Hyundai Australia has reaffirmed its backing for the IONIQ 5 electric SUV; while also stating it will persist with the IONIQ 6 sedan.

The Hyundai IONIQ 5 launched in Australia in 2021 and was eagerly anticipated with demand outstripping limited supply.

Launched in 2023, the four-door IONIQ 6 shares the same E-GMP 800-volt architecture as the IONIQ 5.

The IONIQ 5 and 6 were initially offered via online sale only, but Hyundai expanded that to a full franchise dealer model in 2024.

Both vehicles have been hit by limited sales as cheaper Chinese models reset EV pricing expectations in Australia.

Hyundai responded through price reductions and range rejigs, but sales remained disappointing.

In 2025, IONIQ 5 sales were down 32.9 per cent to 626 sales and the IONIQ 6 was down 46.5 per cent to 200 sales.

Hyundai Australia believes the arrival of the cheaper, China-built Elexio in the family electric SUV segment will lift, rather than hurt, interest in the IONIQ 5.

“IONIQ 5 is still part of our portfolio, and we can see that it can complement Elexio,” Hyundai Australia chief operating officer Gavin Donaldson said.

“I think it's probably more … of a premium upper end of our level three, four, high trim type buyer that will look into that.

“We see Elexio more as the mainstream buyer.”

The Elexio range pricing starts at $58,990 plus on-road costs, rising to $61,990 for the Elite. Initially, lower introductory drive-away pricing will apply.

The slimmer 2026 IONIQ 5 range starts at $76,200 (plus ORCs) for the RWD entry model, although a $71,990 drive-away deal is currently in-place.

“Elexio is deliberately positioned in a way that complements the IONIQ 5 model line-up, just by price, showroom walk as well,” Hyundai Australia product development manager Tim Rodgers said.

“So, it's been quite a deliberate strategy in play that we ladder up all of our EVs, and IONIQ 5 sort of starts and sits at the top there with IONIQ 9 [large SUV].”

But what of IONIQ 6? Well, it appears the sedan design limits it.

“IONIQ 6, for us, is probably more of a niche vehicle that we'll probably still keep in the portfolio, but understand it probably volume limited,” said Donaldson.

“I think sedans play a part in the market, but I think they're more of a niche product now  than they are a mainstream product.”

Of course, the New Vehicle Efficiency Standard (NVES) CO2 reduction scheme plays a role in encouraging Hyundai to keep even slow-selling EVs in its line-up.

While the IONIQ 6 is a niche buy, it won’t stop Hyundai from adding the exciting IONIQ 6 N to its local line-up within months.

The IONIQ 6 N is powered by a 478kW dual-motor all-wheel-drive (AWD) powertrain and is likely to be priced above the technically similar IONIQ 5 N.

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