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MIND BLOWING Ioniq5 and Ioniq6 Inventory at my Local Dealer (and Massive Mark-Ups) 

Wrenching Fool
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In this video, I took a quick trip to my local Hyundai dealer to purchase a cabin air filter for my Ioniq5. While I was there, I was curious to see if they had any Ioniq6 on the lot, since I had not had a chance to see one up close at that point. I thought they might have one, maybe two. Instead, they had seven Ioniq6 sitting on the lot, all SEL or Limited AWD trims, and all with $13,000 to $16,000 mark-ups! In addition to the Ioniq6, they also had many, many Ioniq5 on the lot. I lost track of how many, but I'd estimate about 25 of them, all different trim levels but all appeared to be AWD with the big battery, and all with between $3000 to $5000 of "market adjustment."
This absolutely blew me away. When I bought my Ioniq5 almost exactly a year ago, nobody had even one sitting on a lot. They were selling before they arrived at the dealers, and almost every single one was selling with some kind of mark-up on it. I had to go to New Mexico (from Oregon) to find my Ioniq5 because my partner and I wanted a very specific vehicle (Limited AWD, Shooting Star matte grey, Grey/Green [white] interior) and refused to pay dealer mark-up. We got lucky and found the exact car for the exact price we wanted. Now, they're just sitting on the lot. Crazy.
I predict that these will be selling for less than MSRP this year, especially since the current Ioniq5, Ioniq6 and EV6 models do not qualify for any amount of federal tax credit, the Model 3 and Model Y are now sitting in stock with tax credits available (and at reduced prices), and the dealers are going to get desperate to move their inventory and stop paying interest to have them sit on their lots.

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4 май 2023

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Комментарии : 21   
@willie346
@willie346 Год назад
Got my Ioniq 5 SEL in April at MSRP in the Twin Cities. Had to wait 6 months because I wanted RWD, but I persevered.
@JohnSmith-uz3dt
@JohnSmith-uz3dt 4 месяца назад
I just picked up my leased 2024 Ioniq 5 Limited RWD yesterday. $10,000 off directly from Hyundai. Both the dealership and the salesman were very motivated. They were both way behind their February quotas. They had 15 Ioniq 5’s on the lot. More are on the way. The also had 4 Ioniq 6’s on the lot. There is currently more supply than demand in Tucson and Phoenix, AZ. Although, that doesn’t stop some dealers from still trying to mark up their current inventory.
@Mildern
@Mildern Год назад
In SoCal they are selling them below MSRP finally. Every dealership has a shit load of 5 and 6's on the lot.
@andrebatson3228
@andrebatson3228 Год назад
In Ontario, Canada you rarity see more than two Ioniq 5s on the lot. This has been the case ever since they were released and the wait list is two years. They are marked up 10k.
@TheCarCrazyGuy
@TheCarCrazyGuy 8 месяцев назад
Back in 2022 I wanted an Ioniq 5 Limited AWD. Only a few dealers had these cars at MSRP. They had a year waitlist. I ended up buying a Genesis GV60 Performance at MSRP instead. Essentially the same price as a marked up Ioniq 5. Now dealers are drowning in them. I also just picked up a Bolt EUV Premier at $1k off MSRP.
@DairyAirGunners
@DairyAirGunners Год назад
Inventory here in Mesa Arizona area is good and it looks like some are discounted, but I'm not a buyer. They are generally more expensive, yearly auto registration in Az. is based on the car's cost so that's very expensive too, and my insurance cost would be double. All of that is coupled with a serious lack of charging in the area. The nearest Electrify America to take advantage of the 2 years of free charging is 25 miles away. For now at least, I'll keep driving my low mileage 10 year old Mercedes.
@user-ff8ju1ee9b
@user-ff8ju1ee9b Год назад
I agree wait 6-8 months to buy prices will plummet soon.
@rje0116
@rje0116 Год назад
Said no to an Ioniq 5 last year because of the $6000 markup. Not worth it.
@ArielBatista
@ArielBatista Год назад
With the prices like that why would you get one instead of a Tesla model Y.
@wrenchingfool5284
@wrenchingfool5284 Год назад
I would never even consider paying the mark-up that this dealer is asking. That said, Hyundai needs to do something with their pricing now that Tesla dropped their prices and regained eligibility for the tax credit. As much as I love my Ioniq5, it would be a much harder decision to buy one now.
@mitchellbarnow1709
@mitchellbarnow1709 Год назад
Journalists are always talking about how much less other BEV’s MSRPs are than comparable Teslas, but they conveniently don’t mention that Teslas have no markups and the sky is the limit when you have to enter a franchised dealership and negotiate before the finance manager works his or her best mind screw over guilt tactics on you. I never want to go back into that world if I can help it!
@wrenchingfool5284
@wrenchingfool5284 Год назад
I agree with you on the dealership model, but ultimately it depends on the person. Tesla gives you a price and you pay it or you don't get a car. That price may go up or down thousands of dollars tomorrow (has happened many times). There is no possibility for negotiation. I don't like negotiation, so the "one price" model is OK as long as that price isn't inflated. I just did a video on how Tesla inflated their prices like everyone else during the market craze last year. They weren't dealer mark-ups (since Tesla doesn't have dealers) they were manufacturer mark-ups. The difference there is that you have no option. If you want a Tesla, you pay their mark-up. If you buy from a dealer, you have the option to negotiate the mark-up away or go to a dealer that isn't charging it (like I did). Both have their pros and cons.
@mitchellbarnow1709
@mitchellbarnow1709 Год назад
@@wrenchingfool5284 You are a very smart person!
@MrBeugh
@MrBeugh 11 месяцев назад
Nobody is buying EVs anywhere, from any manufacturer. I am a consultant to the auto industry and am studying this. Anyone have thoughts as to why? My takeaways are 1) the cars are too expensive. It’s easy to drop $60K on an IONIQ 5. THere’s a disconnect between the dealer and the price, like buying a Chevy for a Cadillac price. Mass market dealers (like Hyundai, Ford, Toyota) don’t offer the same level and quality of service as their luxury brands. 2) A LOT more people are working from home and simply can’t justify that kind of expense as they are driving much less than before. Plus who are you going to show-off your shiny new car to nowadays? 3) Many people believe the economy is on shaky grounds and don’t want to commit to that big of a car payment. Your thoughts?
@corycornett5868
@corycornett5868 Год назад
Withnell is a huge joke! They were adding 30k markups on there ram pickups. And they do not want to give anything for trade ins. Which is probably why there ram dealership went out of business..
@wrenchingfool5284
@wrenchingfool5284 Год назад
Yeah, I wouldn't buy a car from them. Actually, I haven't had a great experience with any Hyundai dealer in NW Oregon...
@Digikidthevoiceofreason
@Digikidthevoiceofreason Год назад
Their *. Not there. Learn the difference.
@geteducatedbyTed
@geteducatedbyTed Год назад
Just buy a Tesla. No dealer hassle and the technology in the car is much better.
@wrenchingfool5284
@wrenchingfool5284 Год назад
Not everybody wants a Tesla
@PraiseYAyoupeople
@PraiseYAyoupeople Год назад
tech in Ioniq 5 is a joke. Navigation, route planning is very crappy, no wireless android auto, or apple carplay.... I am surprised that people are paying that much for them....
@wrenchingfool5284
@wrenchingfool5284 Год назад
Tesla doesn’t offer Android Auto or Apple CarPlay at all, wired or wireless. Their navigation system is much better though, but not as good as CarPlay/AA, especially for control of music apps.
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