Hyundai IONIQ 5 sold out in two hours
Hyundai’s all-new electric SUV breaks ordering website; supply shortages to continue in 2022The 2021 Hyundai IONIQ 5 has sold out within hours of online orders of the all-new electric car kicking off today.
With only limited stock of the electric mid-size SUV available due to the global semi-conductor shortage, the initial batch of 240 Hyundai IONIQ 5 EVs sold out in just over two hours.
Interest in the new Korean-built EV was so intense it crashed the ordering website and Hyundai expects demand for the new $70,000-plus EV will outstrip supply in 2022 as well.
“It’s a tough situation for us,” said Andrew Tuitahi, Hyundai Australia’s product planning general manager.
“We’re definitely seeing the extended impact of semi-conductor shortages, and we see it flowing through into next year.”
Despite confirming an initial Australian allocation of 400 vehicles locked in for 2021, the remaining 160 IONIQ 5 SUVs are not expected to be available until next year.
It’s understood this is because the remaining cars are not scheduled to enter production until December.
“Once we have clear visibility of vehicle supply, we intend to release a second allocation of IONIQ 5s, with timing likely to be early 2022,” said Hyundai via emailed statement.
“Customers who missed out will receive regular updates about the supply situation and timing for release of the next batch. We plan to only release vehicles for order once production has been scheduled, to ensure reasonable delivery timeframes for our customers.”
One high-spec Hyundai IONIQ 5 model grade is offered in Australia with two powertrain options, priced at $71,900 plus on-road costs for the rear-drive single-motor model (160kW/350Nm) and $75,900 plus ORCs for the all-wheel drive dual-motor variant (225kW/605Nm).
Standard features include 20-inch alloy wheels, a large glass roof, twin 12.3-inch digital screens, advanced pixel LED headlights and tail-lights, and a 72.6kWh battery for a WLTP-verified 430-450km range.
Despite missing out on appealing $3000 EV rebates in NSW and Victoria because it’s priced above the qualifying threshold, the IONIQ 5 should get stamp duty exemptions in some jurisdictions.
Hyundai is working on a high-performance IONIQ 5 N and is also looking at offering a more affordable, de-specced version of the IONIQ 5 in Australia, to more closely match the prices of the circa-$60,000 Polestar 2 and Tesla Model 3, the latter recently named carsales’ Best Electric Car for 2021.
It’s not clear when the IONIQ 5 will be restocked, as supply levels remain tight for the foreseeable future.
“We’re still working through 2022 [IONIQ 5 supply numbers],” said Tuitahi, confirming the allocation would be “significantly higher than 400 units”.
One customer who contacted carsales following his failure to secure an IONIQ 5 after the ordering website crashed was informed the EV was sold out and he would be notified when the “next release is on sale”.
Hyundai will release the IONIQ 6 sedan in 2022 and the IONIQ 7 large SUV in 2024, with more models to follow.
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