Because of elevated rebates, the 2023 Hyundai Ioniq 6 is now cheaper to purchase than a Tesla Mannequin 3.

Hyundai lately elevated rebates on the Ioniq 6 from $3,750 to a most $5,000 for the SE and SEL trim ranges, CarsDirect discovered. The highest Restricted trim degree will get a smaller $2,000 rebate, and in contrast to the rebate for decrease trim ranges, it is within the type of a seller money incentive, which sellers can merely pocket as revenue.

2023 Hyundai Ioniq 6

The $5,000 rebate successfully brings the bottom worth of an Ioniq 6 all the way down to $37,715. The Tesla Mannequin 3 at the moment begins at $41,630. Nonetheless, the bottom Mannequin 3 is rated at 272 miles of vary, in comparison with 240 miles for the bottom Ioniq 6 SE. The Ioniq 6 SE Lengthy Vary, with a bigger battery pack, provides a 361-mile vary that outdoes all present Mannequin 3 variants.

In a first drive, Inexperienced Automotive Experiences discovered the Ioniq 6 manages to face out not simply from the Mannequin 3 and Polestar 2, however from the entire EV crossover crowd. That features its sibling, the Hyundai Ioniq 5, which has a really totally different design from the Ioniq 6 sedan.

2023 Hyundai Ioniq 6

The Ioniq 5 did get a worth hike for 2023, though Hyundai has already labored to undercut Tesla with lease costs on Ioniq 5 and Ioniq 6. The Ioniq 5 additionally will get a $5,000 rebate this month, bringing its base worth all the way down to $37,785, in line with CarsDirect. And Hyundai is among the many automakers providing a $7,500 lease incentive for EVs, exploiting a tax-credit loophole to supply an alternative to autos that do not qualify for a federal tax credit score.

Again on the acquisition aspect, whether or not or not the Ioniq 6 undercuts the Mannequin 3 after all relies on whether or not you issue within the EV tax credit score. As of earlier this month, your complete Mannequin 3 lineup is eligible for the complete $7,500. 

Leasing and buying aren’t the one options. Hyundai revealed revamped subscription plans earlier this yr, with charges beginning at $699 a month.