Hyundai IONIQ 5: carsales Car of the Year 2021 finalist

Why is the Hyundai IONIQ 5 a carsales COTY finalist?

Electric vehicles are coming – it’s a fact, not an opinion. Hyundai is arguably the only brand likely to impact Toyota’s hegemony of the Australian new car marketplace.

Do we need any more reasons to justify the place of the Hyundai IONIQ 5 in the 2021 carsales Car of the Year, proudly presented by Bingle?

Okay, how about the fact the car looks stellar, drives exceptionally and delivers the most up-to-date EV platform this side of the Porsche Taycan at mass-market money – or close to!

We’re excited about the Hyundai IONIQ 5. Not just because of the car itself, but for the family it will spawn and the additional variants it will usher into Australian Hyundai showrooms (even if it will be sold online!).

Built on Hyundai’s new global electric car architecture, the Hyundai IONIQ 5 delivers large-car space and a flat-floor cabin that moves the brand and segment forward.

It debuts new charging tech, it delivers next-generation infotainment, driver and passenger engagement and the sort of clever connectivity early adopters and digital cynics alike will warm to.

Best of all, it’s a decent drive with a hint of old-school rear-drive dynamics in the base version. Performance in its twin-motor all-wheel drive form is solid – not Tesla-fast, but not far off.

The entry version of the IONIQ 5 features a rear-mounted 160kW electric motor that draws power from a 72.6kWh lithium-ion battery, providing a 451km range and 0-100km/h claim of 7.4sec.

Upgrading to the all-wheel drive variant combines a 155kW rear-mounted electric motor and 70kW front-mounted motor for a combined system output of 225kW.

It also draws power from a 72.kWh battery, offering a 430km range and 5.2sec 0-100km/h claim.

Given the initial, limited batch of Hyundai IONIQ 5s sold out in two hours, the list is likely to be long and distinguished.

Seriously, this is an electric car that with its substantial circa-450km on-paper range and crossover packaging can serve many Aussies just fine as their sole vehicle – even families.

Reality is the IONIQ 5’s price tag (see below), albeit impressive given the car’s performance and tech credentials, will mean that many prospective customers will need to wait for cheaper versions and/or the inevitable downward price evolution. We can’t see any lack of buyers, even when supply is less constrained.

The Hyundai IONIQ 5’s cabin is spacious, with plenty of room for five and decent luggage capacity. While it looks more like a super-hatch than a true SUV, there’s some elevation of the driving position so it ticks crossover boxes.

Then there’s the edgy, modernist styling that is a nod to Hyundais of old but has more than a hint of Lancia Integrale to my eyes. Perhaps the N version should be called the IONIQ 5 evolutioN?

The elephant in the battery-powered room for every brand delivering EVs to Australian buyers is cost.

Starting from $71,900 plus on-road costs, the Hyundai IONIQ 5 is one of the most expensive cars to wear a Hyundai badge ever and will in fact be ineligible for EV rebates currently available in some Australian states.

The higher-output twin-motor all-wheel drive variant is $4000 more at $75,900 plus ORCs.

The positioning of the IONIQ 5 SUV sits it at a substantial premium over the base and long-range variants of the similarly-sized Tesla Model 3. The Model 3 Performance is $86,900 plus ORCs – probably indication of where the proposed IONIQ 5 N will sit when it eventually arrives Down Under.

One plus is equipment levels of both IONIQ 5 variants are high. Don’t look for the options list – it’s all included.

The Hyundai IONIQ 5 has landed Down Under just in time for inclusion in the 2021 carsales Car of the Year deliberations but it’s already impressed our panel.

Feann Torr grabbed a dual-motor version for our first drive on Aussie soil and stated straight up “it oozes appeal”.

“It only takes one glance at the Hyundai IONIQ 5’s show-stopping concept car design to see this is no ordinary SUV. Based on an all-new electric vehicle platform and offering up to 450km of range, the IONIQ 5 is ... already a sell-out success,” he said.

“Once ... more affordable model grades arrive, the IONIQ 5 has the potential to get Tesla Model 3 and conventional car owners requesting a test drive. Indeed, Hyundai has done its homework and created a genuinely practical family vehicle that has the kind of originality and appeal few EVs today offer.

“It blends an excellent powertrain, high-speed 800-volt charging capabilities with a clever cabin layout ... Hyundai has officially brought its EV big guns to bear and electric car brands like Volkswagen’s ID, Volvo’s Polestar and Tesla should take note.”

The list of finalists and wildcards we’re rolling out over the next week or so is a very impressive line-up of vehicles – with a mix of technologies, philosophies and consumer appeal.

The question we’re all asking is: Can a battery-powered Hyundai triumph in the carsales Car of the Year for 2021, proudly presented by Bingle.

The answer to that will emerge next month...