Hyundai IONIQ 5 attracting 'huge interest'

Aussie curiosity about the all-new Hyundai IONIQ 5 is reaching record levels.

Expressions of interest in the battery-electric mid-size SUV on the Hyundai Australia website are up with the most popular new orthodox models launched in recent times.

“It’s through the roof, breaking records,” said Hyundai Australia product general manager Andrew Tuitahi.

The 2021 IONIQ 5 is the first Hyundai to be based on the new E-GMP architecture that will also quickly spawn the IONIQ 6 sedan in 2022 and the IONIQ 7 SUV by early 2024.

The architecture will also underpin EVs from Kia, including the Kia EV6 that is also expected on sale here by early 2022, and the Genesis luxury brand.

Hyundai will announce local pricing for the IONIQ 5 within the next month and it will arrive in showrooms during the final quarter of 2021.

“Typically for a new model launch we’d see EOIs before launch somewhere in the realms of high hundreds to low thousands,” said Tuitahi.

“The Tucson [medium SUV] was a big car for us in that it just ticked into the 10,000 as it launched in terms of expressions of interests.

“And IONIQ 5 at the moment is sitting at just over 9000.

“When we consider the level of volume contribution we would expect from a model, the EOIs are huge.”

In other words, the IONIQ 5 is expected to be a niche seller. It will be priced somewhere north of $60,000 and supply will be somewhat restricted, possibly to as few as 500 per annum.

And yet, the level of interest far surpasses the expected sales volume.

“I think there is a level of interest and fascination with a bespoke electric platform from a mainstream manufacturer, something that is not left-field or luxury,” said Tuitahi.

“I think consumers are interested in finding out what that car will look like if it comes from a brand like Hyundai, what kind of experience they will be able to have with servicing, driveability, performance.”

Normally, a two per cent conversion rate from EOI to sale is the accepted rate, but Hyundai holds hopes that might lift higher to as much as five per cent for IONIQ 5.

It is working on the theory the high EOI rate indicates a strong level of engagement from potential buyers who are researching the EV widely ahead of its launch.

Public promotion of the IONIQ 5 has yet to hit the same levels as the EV6, but it will ramp up as the launch date comes closer. That should boost interest further.

The IONIQ 5 offers two battery pack options – 58kWh or 72.6kWh – and two electric motor layouts – rear or front/rear, the latter providing all-wheel drive.

With the high-capacity battery, the dual-motor AWD model is claimed to deliver total outputs of 225kW and 605Nm of torque, and hit 100km/h in just 5.2 seconds.

That figure rises to 6.1sec in 58kWh dual-motor AWD form, to 7.4sec in 72.6kWh single-motor 2WD form (in which peak torque reduces to 350Nm), and to 8.5sec in 58kWh/2WD guise. All versions will have a 185km/h top speed.

In 72.6kWh battery/rear-drive form, the IONIQ 5 is claimed to offer a maximum driving range of 470-480km (WLTP).

A higher-performance IONIQ 5 N is also said to be under development.