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It’s called inflation. It is affecting many things, and it is only gonna get worse I’m afraid to tell you.

When you have too much money sloshing around the competition for goods raises the price. Price controls don’t work, they just lead to black market conditions.

If you need it, get it now. It will be more expensive the longer you wait.
 

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2022 IONIQ5 Limited AWD Cyber Gray
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As much as I like the Ioniq 5, I am not willing to pay markups. Ford is holding the line on prices on the Lightning (I am on the waiting list for it) but another vehicle you might want to consider is the Polestar 2 which, because of the markups, is actually cheaper than an Ioniq 5.
It's a great car, they brought it by my home, we drove it and ordered one. It is not actually cheaper than an IONIQ5 if you spec it with the same features - ours came out to $68k with the roof, driver aid's and 20" wheels like the IONIQ 5 Limited. And the Limited is what is suffering from big markups and the focus of most of our conversations. If you don't want all that great stuff then I guess you could pay less but then why not just an SE/SEL?
 

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Tustin Hyundai is selling at MSRP. Yes, there is a waiting list. I made my decision to buy an I5 about 6 months ago and visited dealers in my area of South Orange County CA. It wasn't until end of January that Tustin called that my car was at the docks waiting for a truck driver to deliver. I picked it up on 2/22/22. Limited White AWD. Had to pay $765 for White paint, Mats, Net, and Cargo tray.
 

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I am tracking several I5 Limited models arriving into California and dealer markup is tantamount to assault. One of them told me "MSRP + $7,474 + accessories + taxes/licensing fees."

Clearly, I will not be patronizing that dealership. And perhaps I will not be buying a car at all right now. I have two topics to raise here:

1. Is Hyundai corporate powerless to act here? Their official position is that dealers should not charge over MSRP, but I know of no reporting mechanism or enforcement mechanism.

2. The dealerships would be happy for consumers to compete against one another and swallow those prices. Meanwhile, we consumers need to find strength in numbers and that probably means banding together beyond this or any other single forum. We need a Facebook page, where we can share who is treating us well and who poorly. Does such a thing exist?

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...
Rick

I got my IONIQ 5 on January 05 of this year from our dealer here in Irvine, CA. I've known the sales manager and the team at the dealership for over 7 years. They showed me their numbers. Here is what you need to know about this markup. Usually Hyundai (and most auto makers) ship their cars to the deal with an MSRP, but there is the price list too. Thats the price the dealer pays to the auto maker. Usually the difference between these two values is the margin where the dealer makes money. For Hyundai that margin is about $5000. With the Ioniq 5 the difference between the MSRP and price list is only one throusand dollar..! so the dealers left with no margin at all. Considering the trend in the market these days of charging mark up Hyundai dealers are charging but in the Ioniq5 specifically they are trying to cover their margin. You can negotiate the $7000 a bit but don't expect a major drop. The car is high demand, and in general there are no cars in the market mind you electric. So take it as the prices will go up and not down.
 

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Rick

I got my IONIQ 5 on January 05 of this year from our dealer here in Irvine, CA. I've known the sales manager and the team at the dealership for over 7 years. They showed me their numbers. Here is what you need to know about this markup. Usually Hyundai (and most auto makers) ship their cars to the deal with an MSRP, but there is the price list too. Thats the price the dealer pays to the auto maker. Usually the difference between these two values is the margin where the dealer makes money. For Hyundai that margin is about $5000. With the Ioniq 5 the difference between the MSRP and price list is only one throusand dollar..! so the dealers left with no margin at all. Considering the trend in the market these days of charging mark up Hyundai dealers are charging but in the Ioniq5 specifically they are trying to cover their margin. You can negotiate the $7000 a bit but don't expect a major drop. The car is high demand, and in general there are no cars in the market mind you electric. So take it as the prices will go up and not down.
If you know car sales you know that margin is only one of the ways that dealers make money. It is deceptive for them to say they are making only 1000 if they sell an Ioniq5 at msrp. Additionally, there are dealers selling at MSRP. I have an Ioniq5 limited rwd on reserve at a dealership in Phoenix. Every dealer here was charging markups in the 5000 range for this trim. I told the dealer I would not be paying anything over MSRP, and they tried that same line that they "only" make 1000 on the Ioniq5. I politely told them I have family in car sales and I know that isn't true, additionally, I let them know there are multiple dealerships throughout the country that I know sell at MSRP as long as you are willing to wait, as I am. The dealer relented, took a deposit and gave me a price sheet showing I will only pay msrp plus a bit for added dealership addons like tint for the windows, ceramic coating, etc that I was planning on getting anyways. It was a bit more than I would have paid third party for these items, but less than 800 more than I would have paid. The salesperson did finally admit that they make much more than 1000 when they sell the car at msrp.
 

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Well that might vary depending on the trim. Mine is the Limited AWD, space gray with white interior. I paid $3500 over the MSRP and have been driving it since Jan 05 and happy with this purchase
 

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It's a great car, they brought it by my home, we drove it and ordered one. It is not actually cheaper than an IONIQ5 if you spec it with the same features - ours came out to $68k with the roof, driver aid's and 20" wheels like the IONIQ 5 Limited. And the Limited is what is suffering from big markups and the focus of most of our conversations. If you don't want all that great stuff then I guess you could pay less but then why not just an SE/SEL?
at least in California, even a SE will have a $3000 markup so it really is more expensive than the polestar 2. Alas, I really want the V2L capability so the polestar 2 doesn’t work for me. I am hoping for the Polestar 3 SUV though coming end of the year
 

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Well that might vary depending on the trim. Mine is the Limited AWD, space gray with white interior. I paid $3500 over the MSRP and have been driving it since Jan 05 and happy with this purchase
The one I reserved is limited trim as well. I am glad you are happy with your purchase. I think there are reasons to pay over MSRP, but it also isn't an absolute, and it definitely is not the case that dealerships are not making money on the sale of cars at msrp. If you need a car now, and the dealerships in your area are not willing to come down off the markups, you don't have a choice. I am in a situation where I don't need a car at the moment, this just happens to be the car I want, but I am not willing to pay over MSRP. I found a local dealer that was willing to work with that in order to get a guaranteed sale. Long story short, you can find the car at MSRP, but you have to put in some work, and you may have to wait a long time.
 

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There are a LOT of features missing on the SEL. Want to do L2V charging? Gotta get a Premium. I have an SE and there are less still on that trim. Many of the systems featured on the Hyundai ads and YouTubes are not included on less than the Premium. Caveat emptor.
The L2V chargins is available on ALL trim lines. The Premium includes an in-vehicle outlet, which only allows you to export power when the vehicle is on. All vehicles support L2V from the exterior charge port - you simply need to purchase an adapter. It's way overpriced in the US, but you can purchase one on EBay from Korea, then buy a $7 Korean Type F to US plug adapter and you're all set to power most or all of your home during a power outage.
 

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The one I reserved is limited trim as well. I am glad you are happy with your purchase. I think there are reasons to pay over MSRP, but it also isn't an absolute, and it definitely is not the case that dealerships are not making money on the sale of cars at msrp. If you need a car now, and the dealerships in your area are not willing to come down off the markups, you don't have a choice. I am in a situation where I don't need a car at the moment, this just happens to be the car I want, but I am not willing to pay over MSRP. I found a local dealer that was willing to work with that in order to get a guaranteed sale. Long story short, you can find the car at MSRP, but you have to put in some work, and you may have to wait a long time.
^ that's basically it. There are maybe a dozen dealers nation wide still offering at MSRP* and if you're talking a limited trim it's just going to be a very long wait unless someone declines and you are next on the list as the share of limits continues to drop from the peak of roughly 10% per shipment at the end of last year and beginning of this year to now below 0.5% per shipment.**

From the forums it seems like folks in the north east or willing to travel there have the best shot at MSRP for limiteds. Or people with lots of free time from the reports we've seen of folks racing to palm springs multiple times to try and get a car and being beaten.

If you've got time and lots of it it can be a fun hunt. I paid $5,000 to buy one in market (grey/grey/limited/awd) and after seeing what you need to pay and wait with tesla and polestar I don't regret it one bit. For some it helps to just look at the overall vehicle and specs in relation to what others cost with similar and still less features.. and that's not even taking styling and build into account.

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It’s called inflation. It is affecting many things, and it is only gonna get worse I’m afraid to tell you.

When you have too much money sloshing around the competition for goods raises the price. Price controls don’t work, they just lead to black market conditions.

If you need it, get it now. It will be more expensive the longer you wait.
[/QUOTE

Like everything else related to inflation other than food and gasoline, if you're bitching about the price stop buying it. We all want an electric car but how many of us REALLY need a new car? When some dealers start having excess inventory on their floor plan they'll be more reasonable.
 

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^ that's basically it. There are maybe a dozen dealers nation wide still offering at MSRP* and if you're talking a limited trim it's just going to be a very long wait unless someone declines and you are next on the list as the share of limits continues to drop from the peak of roughly 10% per shipment at the end of last year and beginning of this year to now below 0.5% per shipment.**

From the forums it seems like folks in the north east or willing to travel there have the best shot at MSRP for limiteds. Or people with lots of free time from the reports we've seen of folks racing to palm springs multiple times to try and get a car and being beaten.

If you've got time and lots of it it can be a fun hunt. I paid $5,000 to buy one in market (grey/grey/limited/awd) and after seeing what you need to pay and wait with tesla and polestar I don't regret it one bit. For some it helps to just look at the overall vehicle and specs in relation to what others cost with similar and still less features.. and that's not even taking styling and build into account.

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Same 21 Limited in the North East but 900 miles radius from my place is like entire east coast (all the way down to PanamaCity FL and all the way up to OH).
BUT total # of vehicles are less than half compared with west coast at 203 currently.
So, we are talking literally around 50 Limited in or in transit to the dealers that are not marked as sold (of which most may already been sold).

And since there is trucker's strike in Korea which is hampering with the manufacturing and soon the model year change over will happen, I don't think we will see many new cars coming in for next few months IMHO which will, with high gas price, make the supply even worse before getting better.

That said, my brother works at shipping/logistics and he feels that we should see supply issues ease up in about 6 mo as he can see that backlog of ships at harbors are getting shorter.
 

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Like everything else related to inflation other than food and gasoline, if you're bitching about the price stop buying it. We all want an electric car but how many of us REALLY need a new car? When some dealers start having excess inventory on their floor plan they'll be more reasonable.
Majority still do not want an electric car mainly due to range anxiety and having to sit at a charger for 15min (the horror) . We are still early in the adoption curve.
 

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And since there is trucker's strike in Korea which is hampering with the manufacturing and soon the model year change over will happen, I don't think we will see many new cars coming in for next few months IMHO which will, with high gas price, make the supply even worse before getting better.

That said, my brother works at shipping/logistics and he feels that we should see supply issues ease up in about 6 mo as he can see that backlog of ships at harbors are getting shorter.
Actually trucker’s strike only last for 7 days so it was not bad than I anticipated.
Because of part shortages, limited trim will be limited for a while. I am very surprised that Limited trim demands are high. Looks like SEL is less popular than I thought. I ordered 2023 model but 2022 SEL AWD will be available on end of July so I decided to take it.
 

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Actually trucker’s strike only last for 7 days so it was not bad than I anticipated.
Because of part shortages, limited trim will be limited for a while. I am very surprised that Limited trim demands are high. Looks like SEL is less popular than I thought. I ordered 2023 model but 2022 SEL AWD will be available on end of July so I decided to take it.
Well, Hyundai factory worker's union will be voting for striking on July 1st so we will see how that turns out. Looks like the negotiation isn't going anywhere at the moment.

Interesting that you are able to get SEL since there are only 23 SEL in North East which isn't much better than Limited (21).
IMHO, SEL is better value proposition than Limited though (less than $2k more than SE but you get a lot for that $$). Limited adds a lot of non-essential upgrades for big price difference. So far, other than HUD and ventilated seats, I did not see much benefit of Limited. I would have gotten a SEL if my wife wasn't insistent on getting one with 360 degree camera.

I am sure you will be happy with SEL purchase.
 

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Well, Hyundai factory worker's union will be voting for striking on July 1st so we will see how that turns out. Looks like the negotiation isn't going anywhere at the moment.

Interesting that you are able to get SEL since there are only 23 SEL in North East which isn't much better than Limited (21).
IMHO, SEL is better value proposition than Limited though (less than $2k more than SE but you get a lot for that $$). Limited adds a lot of non-essential upgrades for big price difference. So far, other than HUD and ventilated seats, I did not see much benefit of Limited. I would have gotten a SEL if my wife wasn't insistent on getting one with 360 degree camera.

I am sure you will be happy with SEL purchase.
I needed a hard decision to make. Somewhat reason, We always had cars with moon/sun roof but we barely used it. I totally agree that 360 around view is the best option for I5 and limited trim offers so many good features. My wife really wanted inside v2l so I thought about waiting until Hyundai add inside v2l option for SEL or SE trim but I don’t think it will happen so I decided to go with SEL AWD. thought about to get SE but LED headlight is “must” for Ioniq5 in my opinion haha. Unfortunately no one offers SEL AWD in GA (all RWD) and all dealers have markup $2500-5000. If I want to pay markups, I prefer to get Limited trim with MSRP dealer in other states then I decided to order from Fred bean. I don’t want to track and searching everyday and contact dealers anymore. I deposited on June 2 (ordered 2023 model) but they will get 10 SEL AWD and 6 Limited on end of July so I had a chance to get 2022 model. I prefer battery preconditioning but possible price increase for 2023 made me to get 2022 model. If I can pickup the car next month, it will be 7-8 weeks waiting and it’s not bad especially paying for MSRP ^__^
 

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For the OP, Ed Voyles Hyundai in Smyrna, GA was the same. $78,000 out the door was their ask for a Limited RWD. That was with the $7500 market value adjustment, required services (tint, clear coat protection, interior scotch guard) totaling $5000, charging top dollar for the extra items (cargo net, first aid kit), "required" extended warranty and then a $1500 document processing fee. Of course I was a hard pass, not wanting to deal with the shysters.

I did find out on the subreddit that someone bought the car for $68,000 OTD, but they had a trade-in, which makes me think they still got hosed.
 

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For the OP, Ed Voyles Hyundai in Smyrna, GA was the same. $78,000 out the door was their ask for a Limited RWD. That was with the $7500 market value adjustment, required services (tint, clear coat protection, interior scotch guard) totaling $5000, charging top dollar for the extra items (cargo net, first aid kit), "required" extended warranty and then a $1500 document processing fee. Of course I was a hard pass, not wanting to deal with the shysters.

I did find out on the subreddit that someone bought the car for $68,000 OTD, but they had a trade-in, which makes me think they still got hosed.
That’s why I decided to buy my Ioniq5 from other states.
almost nothing for AWD and markups are crazy in GA.
I can’t believe someone paid 10k+ markup.
Just sick and tired of dealing and searching for Ioniq5 so I made a right decision to get ioniq5 from out of state MSRP dealer. I need to travel but I used to drive often from Atlanta to NY so it’s not an issue for me. Also waiting time was quicker than I anticipated (possibly 7 weeks).
 

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While I can't tell yet when exactly I'm going to get my Limited, I'm happy that pricing is already negotiated. Actually, there was no negotiating. I will be paying $1,995 over MSRP for some protection package. Granted, not something I needed but certainly better than $7,500 for nothing. I visited my local dealer here in Florida about 2 weeks ago, told him what I wanted and got on the waiting list.

Believe it or not but there are folks who waited on their Limited and then simply changed their mind. I want a Limited AWD with light interior and told the dealer I would prefer to wait for a MY23 since I would not need the vehicle 'til November. A week ago (or a week after getting on the waitlist), my phone rang and I was offered a Limited RWD in Shooting Star with black interior. I declined since it was not a match but it shows you that when you are on a waiting list, you might get your hands on a Limited much faster than you think. Of course, Florida is not California...
 
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