Does the Model Y justify the substantial price gap?
When it comes to electric crossovers the default choice for many is the Tesla Model Y. However, numerous price increases means even the most basic version of Tesla’s electric crossover will now set you back over $60,000. Meanwhile, the Hyundai Ioniq 5 has just arrived in the US and offers similar levels of practicality to the Y as well as great tech and stylish looks – and all for a lot less money. Is the Tesla still your best bet? Edmunds decided to find out.
Starting off two Ioniq 5 batteries are available, a 58 kWh pack and a 77 kWh pack. The smaller pack will only be available as part of a RWD setup meanwhile the larger one can be equipped in both RWD and AWD guise.
The base Ioniq 5 starts at around $41,000 – effectively $33,500 after the Federal Tax Credit (which Tesla no longer qualifies for) has been applied. This means an entry-level Ioniq 5 is just over half as much as an entry-level Model Y. That said, the base Model Y Long Range still has AWD and a 75 kWh battery pack so that’s not really a fair comparison. The $48,225 (after FTC) Ioniq 5 Long Range AWD in top-spec Limited trim is a better fit and what Edmunds chose for this comparison. That’s still around $14,000 less than the cheapest Model Y.
Unfortunately this wasn’t quite an apples-to-apples twin test as Edmunds used their own Model Y Performance for it (a Long Range would be a more suitable choice). That said, in terms of practicality and tech of course nothing changes between the versions – only power, speed and ride quality.
Edmunds noted the Ioniq 5’s good visibility, head-room and leg space, although the flat floor is a bit unnecessary and dividers could be needed. The seats are super comfortable and ventilated, plus they recline in both the front and back in top Limited trim. The Ioniq 5’s frunk offers decent space although isn’t as big as the Tesla’s. Cargo room is 59.3 cubic feet with the rear seats down, marginally less than the Y.
Inside the Model Y there’s a less airy vibe, and its super minimalistic. Seats are very supportive and comfortable, and you can get it in 7-seat guise as well. There’s even more rear leg room and space in the Model Y than the Ioniq 5, with the 5’s space still excellent.
The Ioniq 5 has an intuitive 12.3″ central display. Apple CarPlay and Android Auto are both standard, although you can’t get wireless. The Ioniq 5 has an augmented reality display, plenty of USB ports and OTA updates. The Ioniq 5 can also charge from 10-80% in just 18 minutes on a DC fast charger – that’s substantially quicker than the Y.
The Model Y has no Android Auto or CarPlay, and no instrument cluster in front of the driver or head-ups display. That said it has a great infotainment system with plenty of cool features like video streaming and games.
The Ioniq 5 offers a smooth ride and has good power delivery. Because this is the AWD Long Range version its pretty quick; 0-60 mph takes just 4.7 seconds – quicker than a Model Y Long Range.
There’s a lot more road noise in the Model Y with lots of creeks and rattles, meanwhile the ride is more harsh (although Edmunds were testing a Performance model).
Range is up to 303 miles for the Ioniq 5 RWD LR, but the AWD version manages 270. The Tesla manages similar numbers. As for autonomy, the Ioniq 5’s Driving Assist 2 is a more refined and consistent setup than Tesla’s Autopilot according to Edmunds.
In summary, Edmunds remarked that the Ioniq 5 sets a new standard for its price range. While the Model Y still wows, Edmunds are disappointed by its inability to match its EPA range figures and inferior build quality and ride. That’s why the Ioniq 5 is there choice.
“The Model Y set the standard, but the Ioniq 5 now sits on its shoulders.”
But what do you think? Is the Model Y still the undisputed crossover king, or has the Ioniq 5 (or something else) taken its place? Let us know your thoughts in the comments below.
Keyword: Tesla Model Y Vs Hyundai Ioniq 5 In-Depth Comparison