Hyundai, Kia slash EV prices by up to $17K globally

Hyundai and Kia are rolling out aggressive global discounts on electric vehicles and SUVs, with incentives reaching nearly $17,000 in some markets. The widespread promotions follow the introduction of new 25% U.S. tariffs on imported vehicles and signal the Korean automakers’ push to drive sales volume in other regions. The cuts apply to top-selling models like the IONIQ 5, IONIQ 6, and EV9, and include attractive lease offers and bonus perks, such as home charging equipment.

Why it matters:

For dealers, these sweeping promotions highlight both a growing urgency from Hyundai and Kia to stimulate global EV demand and potential pricing pressure in the U.S. market. With U.S. tariffs reshaping international sales strategies, Hyundai and Kia are ramping up domestic production while holding the line on prices, at least temporarily. Dealers should prepare for increased promotional activity, potential customer pricing questions, and a shifting competitive landscape, especially in the electric segment.

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Key takeaways:

• Global EV discounts reach nearly $17,000
  Hyundai and Kia are offering incentives of up to 23 million won (approx. $17,000) in global markets, including Europe, Thailand, and Chile.
• Tariffs likely prompted sales push
  The aggressive pricing strategy comes after new 25% U.S. tariffs were imposed on imported EVs. Hyundai reportedly instructed regional teams to boost sales by 10% in non-U.S. markets.
• U.S. programs hold prices—for now
  Hyundai extended its “Customer Assurance” program through July 7, pledging not to raise U.S. vehicle prices. However, price hikes may follow.
• U.S. dealers see strong EV lease offers
  Hyundai is offering lease deals as low as $179/month on the 2025 IONIQ 5, while the new IONIQ 9 leases from $419/month with up to $13,000 in savings. Kia’s EV9 sees discounts up to $12,500.
• Local production ramps up at Georgia EV plant
  Hyundai’s Metaplant in Georgia, now building the IONIQ 5 and new IONIQ 9, will help offset tariff impacts. The facility targets 300,000 annual units, expandable to 500,000.