Hyundai just released pricing for the IONIQ five N just a few weeks ago, and a California dealership has already raised the MSRP of the automaker’s latest, toughest EV to $20,000.
Reddit user u/Qball17five4 wrote in a post on the r/Ioniqfive subreddit that he is a Hyundai influencer and owner of a Veloster N. Hyundai told him that Ontario Hyundai in California had the IONIQ five N in its possession, so he went to the dealership to buy it and was greeted with a tempting $20,000 markup, which raised the price from $67. 68 five to $87. 68 five:
Here’s what u/Qball1754, aka David De Rigo, had to say on Reddit on his Instagram account:
First of all, my dealer was very friendly and went out of his way to find a solution. Other than that, my experience hasn’t been the most productive, there’s a $20,000 markup that’s non-negotiable and it was said that the company took the resolution because it was delivered that way (I don’t buy it). Other dealers will rate a premium price. Margin on the car I’ve been told, since it’s an “exotic,” Hyundai possibly wouldn’t be leasing for the car or credits and financing for EVs only. The sales/finance manager was disrespectful when it came to pricing and I knew his assignments and I was a Nfluencer.
The IONIQ five N is a high-performance vehicle. Its two electric motors can generate up to 641 horsepower (478 kW) on an 84 kWh battery and achieve acceleration from 0 to 100 km/h in 3. 2 five seconds. But is that “exotic” enough to justify a $20,000 profit margin?
Why is there so little coverage in the United States?
Many countries around the world have banned such surcharges.
It’s only worth what someone is willing to pay for it, and the broker opts for the “don’t ask, don’t take” approach. But it seems that all kinds of arbitrary situations and rules have been imposed on him. A way to sell cars and build your reputation, people, especially with an “Nfluencer”.
Click here to locate a local broker who may have the Hyundai IONIQ five in stock.
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Michelle Lewis is editor of Electrek and DroneDJ, 9to5Mac, and 9to5Google. He lives in White River Junction, Vermont. In the past he worked for Fast Company, The Guardian, News Deeply, Time and others. Message Michelle on Twitter or michelle@9to5mac. com. Check out her private blog.