{"id":2538,"date":"2023-06-15T17:13:58","date_gmt":"2023-06-15T17:13:58","guid":{"rendered":"http:\/\/blogs.rosenhyundai.com\/?p=2538"},"modified":"2023-07-03T17:29:12","modified_gmt":"2023-07-03T17:29:12","slug":"does-the-hyundai-ioniq-5-qualify-for-tax-credit","status":"publish","type":"post","link":"https:\/\/blogs.rosenhyundai.com\/index.php\/2023\/06\/15\/does-the-hyundai-ioniq-5-qualify-for-tax-credit\/","title":{"rendered":"Does the Hyundai IONIQ 5 Qualify For Tax Credit?"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]\"HyundaiWhile the Hyundai IONIQ 5<\/a> may no longer qualify for federal tax credits, there are still plenty of incentives and rebates available at the state level. Moreover, the IONIQ 5 offers an impressive package with its range, charging capabilities, design, and available features. EV shoppers looking for a well-rounded crossover EV should consider the IONIQ 5 as a compelling choice, despite the absence of federal tax incentives. Learn more about the 2023 IONIQ 5 now at <\/span>Rosen Hyundai Algonquin<\/span><\/a> today!\u00a0<\/span><\/p>\n

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Federal Tax Incentives No Longer Applicable to the Hyundai IONIQ 5<\/b><\/h2>\n

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So, does the IONIQ 5 qualify for tax credits<\/a>? The Hyundai IONIQ 5, a highly anticipated electric vehicle, has unfortunately lost its eligibility for federal tax credits. As a result of the Inflation Reduction Act (IRA), which outlines new rules for electric vehicle eligibility, the IONIQ 5 and other EVs assembled outside of North America no longer qualify for the federal clean vehicle credit.<\/span><\/p>\n

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The end of the IONIQ 5 tax credit<\/a> has faced significant criticism, particularly due to Hyundai\u2019s commitment to the American market. The company has invested $5.5 billion in a Georgia-based plant dedicated to producing batteries and EVs. While the future remains uncertain, there is hope that an agreement will be reached to reinstate the IONIQ 5 as an eligible EV.\u00a0<\/span><\/p>\n

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Exploring Alternative Electric Vehicle Incentives<\/b><\/h3>\n

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Although the IONIQ 5 is no longer eligible for federal tax incentives, prospective owners can still take advantage of various state-level incentives and rebates. These programs aim to reduce local emissions and provide financial benefits to EV and plug-in hybrid buyers. Some of these incentives include rebates for purchasing an EV or assistance with the installation and upgrade of home chargers.<\/span><\/p>\n

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For instance, California offers an electric vehicle incentive that provides rebates of up to $7,000, while Florida offers a $100 utility rebate and tax credits of up to $7,500 for electric vehicles.<\/span><\/p>\n

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The IONIQ 5 Remains an Attractive Choice<\/b><\/h4>\n

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Despite the loss of federal tax credits, the Hyundai IONIQ 5 remains a compelling option in the EV market. The 2023 Hyundai IONIQ 5<\/a> starts at $41,450 MSRP, placing it in the middle range in terms of affordability. It is priced lower than luxury SUVs like the Polestar 3 but slightly more expensive than models such as the Volkswagen ID.4 or Chevrolet Bolt. Plus, available IONIQ 5 special offers<\/a> mean even more savings. Shop yours now at a IONIQ 5 dealer<\/a>!\u00a0<\/span><\/p>\n

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The IONIQ 5 has garnered significant recognition, with Car and Driver awarding it an Editors\u2019 Choice accolade and naming it the #1 EV of the Year for the 2022 model. Notable features of the IONIQ 5 include its quick charging time, a maximum driving range of 303 miles, a distinctive design, and the option for all-wheel drive.<\/span><\/p>\n

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Visit Rosen Algonquin!\u00a0<\/b><\/h5>\n

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Looking for a Hyundai dealer near me? At <\/span>Rosen Algonquin Hyundai<\/span><\/a>, we have a full inventory of new and used cars Algonquin, IL, including Rosen EVs. Our goal when you visit our new Hyundai dealership is to provide you with a superior experience satisfying your needs. Experience the Rosen difference when you shop or service at your Algonquin Hyundai dealer! Stop in today to shop Hyundai IONIQ 5 models!\u00a0<\/span><\/p>\n

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[vc_row][vc_column][vc_column_text]While the Hyundai IONIQ 5 may no longer qualify for federal tax credits, there are still plenty of incentives and rebates available at the state level. Moreover, the IONIQ 5 offers an impressive package...<\/p>\n","protected":false},"author":1,"featured_media":2539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[258,615],"tags":[26,204,726,735,717],"yoast_head":"\nDoes the Hyundai IONIQ 5 Qualify For Tax Credit? - Rosen Hyundai<\/title>\n<meta name=\"description\" content=\"While the Hyundai IONIQ 5 may no longer qualify for federal tax credits, there are still plenty of incentives and rebates available at the state level. 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