Ioniq 6 discount not sign of failure: Hyundai

HYUNDAI has defended the position of its slow-selling Ioniq 6 electric vehicle as a recent ‘Black Friday’ sales event slashed up to $12,000 from the list price of the low-slung sedan.

The brand’s Australian division made the decision to heavily discount the Ioniq 6 in a bid to clear an estimated nine months’ worth of vehicle stock ahead of the arrival of the updated MY24 facelift – which is now available to order.

GoAuto understands approximately 600 vehicles were ‘on grass’ awaiting sale at the time of the Black Friday offer.

But according to Hyundai Motor Company Australia product planning manager Chris Saltapidas the importer is happy with the progress of its Tesla Model 3, Polestar 2 and now BYD Seal rival, saying the vehicle’s unique position in the market is one aimed at “testing the waters” locally.

“Considering where the market is, especially in relation to sedans, I think the Ioniq 6 has met expectations,” he explained.

“Of course, any product can do better, but I think what we were trying to achieve with that car – getting as much range as possible from an electric vehicle – was part of its USP (unique selling point).

“I guess there is some disparity between the mix between passenger and SUV electric vehicle sales – particularly between the Ioniq 5 and Ioniq 6 – so we are trying to address that and test the waters with the Black Friday sale.”

Over a four-day period, run-out stock of the Ioniq 6 Techniq was discounted by as much as 18 per cent ($12,000), with Epiq variants reduced by as much as $5288 and Dynamiq variants by $2500.

The Hyundai Ioniq 6 has seemingly failed to ignite the interest of Australian buyers who currently favour more cost-competitive sedan rivals including the Polestar 2 and Tesla Model 3 by a considerable margin.

VFACTS figures (to the end of October 2023) showed Hyundai had sold just 468 examples of the Ioniq 6, well behind the Polestar 2’s 1867 unit sales and a mere fraction of the Tesla Model 3’s 15,718.

Despite the evidence, Mr Saltapidas says the Ioniq 6 has a “bright future” in the local market.

“I think the Ioniq 6 has a pretty bright future here. We will always have it available at a local level – we’ll always put our hand up for every product that is available globally, as long as it suits our market,” he said.

“Sure, the passenger segment is declining. But there is still some volume there, and we will continue to offer that product for as long as people want it.”

Hyundai marketed the Ioniq 6 Black Friday sale as part of a “complimentary trim upgrade” which priced the Ioniq 6 Techniq AWD at the same level as the higher-trimmed Dynamiq, and the Epiq for the price of the Techniq (see full pricing table below).

Applying the offer made the Ioniq 6 some $2500 cheaper than the equivalent Tesla Model 3 but still $4100 more than a comparable Polestar 2.

2023 Hyundai Ioniq 6 pricing*:

*Pricing excludes on-road costs.