Australia’s electric vehicle landscape is undergoing an electrifying transformation, and the latest player to enter the scene is the Hyundai Ioniq 5 N. This South Korean automaker’s high-performance electric car seems to have struck a chord with enthusiasts, despite its rather hefty price tag. Recent reports reveal that Hyundai Australia received a remarkable 126 pre-orders for the Ioniq 5 N within just 12 hours of opening reservations. What makes this achievement even more noteworthy is the fact that the Ioniq 5 N is currently Hyundai’s most expensive offering in the country.
The Ioniq 5 N comes with a starting price of AU$111,000 ($71,200), excluding on-road costs. To put that into perspective, it’s more than double the price of Hyundai’s other popular performance-oriented vehicle, the Hyundai i30 N hot hatch. However, this premium pricing is justified by the Ioniq 5 N’s impressive performance credentials. In fact, it’s the most powerful and quickest-accelerating car ever offered by Hyundai in Australia.
According to reports from Drive AU, production of the first Ioniq 5 N units is expected to commence around November, with these electric beasts set to grace domestic showrooms by the end of the year or early 2024. Hyundai has assured eager customers that the Ioniq 5 Ns on pre-order will be delivered “no later than early January,” depending on the specific options selected.
The excitement surrounding the Ioniq 5 N was palpable during the Melbourne EV Show event, where pre-orders for this electrifying machine were briefly opened. As we approach its showroom debut, anticipation continues to build. John Kett, the CEO of Hyundai Australia, shared his perspective during a media briefing, highlighting the significance of the pre-orders, especially given the vehicle’s premium price point.
“We had a little (internal guess) going on between all of us, and it ranged from 100 (orders in the pre-sale) to 500-plus. It’s still a pretty significant price, so we’re happy with what we’ve got. (For) the enthusiasts that are very much connected to (Hyundai) N or a performance (electric car), we’re probably the first to come to market,” Kett stated.
What’s particularly interesting is that approximately 78% of Ioniq 5 N buyers are new to the Hyundai brand, signifying a growing appetite for high-performance electric vehicles. The remaining 22% are existing Hyundai owners who are eager to experience the brand’s electrified offering. This trend bodes well for Hyundai Australia’s electric vehicle endeavors, with the company setting its sights on achieving 3,000 to 4,000 sales from the entire Ioniq lineup in 2024.