Used Ioniq 5 EV prices skyrocket, as new car buyers lean toward speed
Few electric vehicles released over the past 12 months have turned as many heads as the new Hyundai Ioniq 5, or its sister EV, the Kia EV6. There is plenty of appetite for both in Australia, but limited supply, and buyers are having to wait for months, or years, to get behind a new model.
How have the Kia EV6 and the Hyundai Ioniq 5 been received so far and can real ownership data tell us why some owners prefer one over the other?
The price of an EV is the number one factor stopping Australians from making the switch. Recently I wrote about the lack of affordable EVs available in Australia until we see more new models enter the market in later 2022.
Niether the Hyundai Ioniq 5 and the Kia EV6 can be considered affordable as most would understand that expression and many of their variants have not qualified for the available state and territory subsidies.
Having said that, this has not stopped buyers from paying a premium for these great cars. Most of the variants are priced $70,000 driveaway but the used car prices are even higher.
New data from carloop shows the average price being paid for a used Hyundai Ioniq 5 in May 2022 has risen again to $97,473 driveaway. This means that owners that are not willing to wait are paying nearly 20% above the price of a new one.
