Hyundai is discounting EVs because who wants to pay for gas these days

Hyundai offered significant discounts on its electric vehicles, including the IONIQ 5, in early March 2024, aiming to attract buyers by highlighting savings compared to gasoline costs. The automaker provided incentives such as $7,500 in lease cash and a 1.9% financing rate for 60 months on select models, according to reports from automotive news outlets like CarsDirect. These offers were available on models like the 2023 IONIQ 5 SE, SEL, and Limited trims, and also extended to the 2024 Kona Electric and IONIQ 6. The strategy appears to be a response to a slowdown in EV demand and increased competition, with Hyundai seeking to make its electric offerings more appealing to a broader consumer base. The discounts were presented as a way for consumers to avoid fluctuating and often high gasoline prices, framing EVs as a more stable and cost-effective alternative.