A Hyundai dealership in Ontario California has been reported charging $87,685 for Hyundai’s “affordable” performance EV SUV, the Ioniq 5 N. The upcharge amounts to $20,000 over the MSRP. The story, first shared on Reddit describes the dealership’s 29.5% markup over the vehicle’s advertised price of $67,685!
The Reddit user states the $20,000 markup was non-negotiable. Furthermore the dealership told the buyer the 5 N’s price was “corporate’s decision.” Not surprisingly, the original poster felt that the sales and finance managers were completely disrespectful. The customer also recounted his experience to automotive website Jalopnik, “I’ve never felt that disrespected by a dealership before. And to hear them talk about screwing me over just to make a sale, I couldn’t believe it.”
The Ontario Hyundai dealership is not alone. A Hyundai dealer in Escondido CA is advertising a Ioniq 5 N on it’s website for $78,155; $10K over MSRP!
Carscoops website contacted Hyundai USA who stated that while dealerships independently determine final vehicle pricing, Hyundai encourages them to maintain transparency and align online prices with in-store pricing. The company discourages dealers from marking up prices above MSRP, which may harm the customer experience and brand loyalty.