Hyundai Slashes EV Prices – A New Signal for the Global Electric Vehicle Market
Translated from TheDriven.io (October 7, 2025)
Hyundai cuts prices by up to AUD 34,000 across its electric lineup
On October 7, 2025, The Driven reported that Hyundai Motor Australia has announced a significant nationwide price reduction for its electric vehicle lineup, with discounts reaching up to AUD 34,142 (approximately USD 22,000–25,000). This marks one of the most aggressive price cuts ever offered by the company in Australia.
The affected models include the Ioniq 5, Ioniq 6, Inster, and Kona Electric, with reductions ranging from AUD 3,300 to AUD 34,142, depending on model and region. All prices are listed as “driveaway,” meaning inclusive of taxes and delivery.
Key examples of price reductions
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Ioniq 6 Epiq (MY23): price cut by AUD 34,142, significantly undercutting key rivals.
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Kona Electric and Ioniq 5: discounted by AUD 6,000–10,000, depending on configuration.
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Inster, Hyundai’s compact EV, received a AUD 3,320 reduction, bringing its starting price below AUD 40,000.
According to Hyundai, the move aims to boost Q4 sales and make EV ownership more accessible amid falling battery and component costs.
EV market dynamics in Australia
Electric vehicles now account for 11.3% of total new car sales in Australia, with over 12,000 units sold in September 2025 alone. With Tesla, BYD, MG, and Kia all engaging in price competition, Hyundai’s decision reflects the intensifying battle for market share.
The deep discounts also indicate a clear-out strategy for MY23 inventory, making way for upcoming 2026 models while capitalizing on year-end purchase momentum.
Implications and analysis
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Short-term strategy: Stimulate sales and clear remaining stock before launching next-generation models.
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Competitive pressure: Hyundai’s move may trigger a broader wave of price cuts across rival brands.
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Profitability risks: Steep discounts could compress margins amid persistently high logistics costs.
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Regional opportunity: If replicated in emerging markets such as Southeast Asia or Vietnam, such pricing strategies could significantly accelerate EV adoption.
Outlook
Hyundai’s aggressive discounting signals more than a clearance effort—it represents a strategic play to expand EV accessibility and capture the mainstream consumer base.
By narrowing the cost gap between internal combustion and electric vehicles, Hyundai is positioning itself for stronger long-term presence in the rapidly electrifying global market.
Source: TheDriven.io – Hyundai slashes prices on EVs, some models by up to $34,000
