South Korean legacy automaker Hyundai welcomed another recognition, with Kona Electric being the top new electric vehicle model selling below the manufacturer’s suggested retail price (MSRP) in January 2024.
Hyundai dominates the rankings of top EVs selling below MSRP
According to American online auto research firm iSeeCars, the Hyundai Kona was the top-selling EV priced below MSRP.
In hindsight, Hyundai launched the 2024 Kona Electric in December 2023. It added to the list of the cheapest EV models in the US market with just below the $33,000 base price.
Despite its affordability, it offers a wide range of remarkable qualities, such as a new design, improved driving range, and faster charging capability than its predecessor.
That said, it is unsurprising that the Hyundai EV secured the highest spot in the rankings of top EVs selling below MSRP. As per the report, the Hyundai Kona Electric had an average price of $36,211 in January. It indicates a 4.6% drop from its average MSRP of $37,964.
Germany’s Volkswagen ID.4 followed the Kona Electric with a 3.6% price decline from $50,547 MSRP to $48,740.
Presented below are the top 10 electric vehicle models selling below their average MSRP as of January 2024:
Top 10
| Rank | Model | Price vs MSRP (January 2024) | Avg price | Avg MSRP |
| 1 | Hyundai Kona Electric | -4.6% | $36,211 | $37,964 |
| 2 | VW ID.4 | -3.6% | $48,740 | $50,547 |
| 3 | Ford F-150 (hybrid) | -3.3% | $82,132 | $84,910 |
| 4 | Kia EV6 | -2.5% | $52,004 | $53,315 |
| 5 | Hyundai IONIQ 6 | -2.4% | $47,691 | $48,861 |
| 6 | Nissan Maxima | -2.2% | $42,234 | $43,163 |
| 7 | Chrysler Pacifica (PHEV) | -2.0% | $53,263 | $54,329 |
| 8 | Nissan Ariya | -1.9% | $50,751 | $51,734 |
| 9 | Hyundai IONIQ 5 | -1.9% | $50,477 | $51,455 |
| 10 | VW Arteon | -1.8% | $47,852 | $48,734 |
Hyundai’s EV incentives
Hyundai and Kia currently have no access to federal tax credits in the US, given that they produce their offerings in their factories beyond North America.
Nonetheless, Hyundai and Kia EVs can still benefit from the same $7,500 incentive through the leasing loophole in the US.
In an effort to catch up, the Group launched new incentives to reduce the price of their electric vehicles. For instance, it introduced an extra $7,500 “Final Pay Incentive” that boosts customer savings by up to $15,000 on the Ioniq 5.
It also launched a $7,500 purchase incentive on the 2024 IONIQ 6 in January 2024, making it more affordable by almost $10,000 compared to the Tesla Model 3 Highland.
Hyundai’s official website indicates that the $7,500 in Retail Bonus Cash is still available for all 2024 IONIQ 6 and 2024 Kona Electric customers. On the other hand, 2024 Hyundai IONIQ 5 SE RWD buyers can benefit from the $7,500 Bonus Cash offer.
