Hyundai Ioniq’s’early box office hit’ hit three beats in price, design, and reliability

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▲ Hyundai Motor Company Ioniq 5

[에너지경제신문 여헌우 기자] Hyundai Motor’s new electric vehicle’Ioniq 5’is capturing the hearts of consumers with three characteristics: price, design, and trust. It is an analysis that despite the attractive design, the price was set up to tens of thousands of won cheaper than competing models, and it succeeded in early box office success. It is evaluated that the key to the success of the Ioniq 5 was also reliably ending the’Kona EV fire’, which was almost a bad thing.

The Ioniq 5 is the first electric car made by Hyundai Motor Company using the exclusive platform’E-GMP’. In Korea, it is becoming so popular that 23,760 people have completed the application on the first day of the pre-contract on the 25th of last month. This is a number that exceeds the record of daily pre-contracts for all finished car models released in Korea. Until the end of the year, the Kia 4th Generation Carnival (23,006 cars), which came out last August, was the best.

Hyundai Motor Company previously suggested 26,500 domestic sales targets for the Ionic 5 this year. In particular, the industry seems to be focusing on the fact that the number of contracts for this car exceeded the annual sales of all Tesla models (11,826 units) in one day.

The overseas reaction is also hot. In Europe, on the 28th of last month (local time), when a pre-contract for 3,000 units was started, 10,000 people gathered in one day, and it was’completed’. It is reported that more than 230,000 inquiries have occurred to Hyundai Motor’s European subsidiary since the vehicle was released.

In the market, such an initial reaction is the result of the △price, △reliability and △design of the IONIQ 5.

Hyundai Motor Company announced that it will set the domestic sales price of the top 5 car class (long range) of Ioniq in the early and mid-range of 50 million won. If the government and local government subsidies are combined, the actual purchase amount can go down to around 30 million won. On the other hand, the price of Tesla Model Y, which is its class rival model, is 69.9 million won to 79,000 won. The base price is tens of millions of won, and Tesla’s vehicle can only receive 50% of government subsidies. Experts evaluate the marketability of the IONIQ 5 and Model Y as’all in one’.

Vehicle design competitiveness is also considered a factor that moved contractors’ hearts. Officials from several Hyundai Motor Company branches and agencies located in downtown Seoul said, “Contractors have asked a lot of questions about when they can see the real thing, saying that the photos of the Ioniq 5 are pretty.” Autocar, a British automobile magazine, reported on the Ioniq 5, “The parametric pixels applied to the headlights and taillights, which were not seen in existing Hyundai cars, are unique and the straight line is attractive.”

It seems that Hyundai Motor’s winning number of’battery strategy recall’ related to the Kona EV fire incident also affected the success of Ioniq 5. Hyundai Motor Company decided to replace all batteries of more than 80,000 vehicles worldwide when Kona Electric Vehicles suffered a’fire controversy’. It was a decision to protect consumers and secure trust before the vehicle defect investigation was completed. The amount of provision that must be accumulated for this is expected to exceed 1 trillion won.

Professor Ho-geun Lee of the Department of Automotive at Daedeok University said, “It was important to complete the Kona EV situation well for the success of the electric vehicle that Hyundai will release in the future. “The key is to secure the demand as much as the supply capacity,” he pointed out.

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