Tesla Model Y vs Hyundai Ioniq 5: Price, Range and Cost per Mile
The Model Y is more efficient and has the bigger boot; the Ioniq 5 is cheaper to buy, goes further on its big battery and charges faster. Here is how the two compare on UK prices, range, charging and our own cost per mile figures.
Quick answers
- The Tesla Model Y Rear-Wheel Drive is listed at £44,990, while the Hyundai Ioniq 5 starts at £40,695 on Hyundai's UK site in November 2026 for the 63 kWh Advance.
- On official efficiency figures, EV Compared calculates the Model Y costs 1.7p a mile to charge at 8p/kWh at home, against 2.1p a mile for the Ioniq 5 84 kWh RWD.
- Over 10,000 miles charged entirely on public rapid chargers at 79p/kWh, the Model Y would cost about £1,722 and the Ioniq 5 84 kWh about £2,034, a gap of £312.
- The Ioniq 5 84 kWh RWD has a 354-mile WLTP range, ahead of the 314 miles of the entry Model Y but behind the 383 miles of the Model Y Long Range RWD.
- The Ioniq 5's 800-volt system takes 10 to 80 per cent in about 18 minutes on a 350 kW charger, against about 25 minutes for 20 to 80 per cent in the entry Model Y.
- The Model Y has an 854-litre boot plus a 117-litre front boot, against 520 litres and a 57-litre front boot in the rear-wheel-drive Ioniq 5.
- At the 4% benefit-in-kind rate for 2026/27, a 40% taxpayer pays about £60 a month for a £44,990 Model Y and £54 a month for a £40,695 Ioniq 5.
The Tesla Model Y is the cheaper car to run and the more practical one, costing 1.7p a mile to charge at home against 2.1p for the Ioniq 5 84 kWh. The Hyundai Ioniq 5 is the cheaper car to buy, charges faster on a 350 kW charger, and its 84 kWh version goes further than the entry Model Y.
Both are mid-size electric family cars priced in the low to mid £40,000s, and both sit under the £50,000 expensive car supplement threshold in their core versions. They differ in how they spend their energy: the Tesla is lighter on electricity, while the Hyundai trades some efficiency for an 800-volt charging system and a more conventional cabin.
How much do the Model Y and Ioniq 5 cost in the UK?
The Model Y Rear-Wheel Drive is listed at £44,990 in November 2026, the figure shown by Carwow and EV Database. In February 2026 electrive reported the Model Y Long Range RWD, with 383 miles of range, at the same £44,990. Our page on Tesla Model Y and Model 3 UK prices tracks the full range up to the £61,990 Performance.
The Ioniq 5 starts at £40,695 on Hyundai’s UK site in November 2026, for the 63 kWh Advance. Carwow lists the 84 kWh versions from £44,195 for the Advance to £50,255 for the Ultimate, with the dual-motor cars higher still.
| Tesla Model Y RWD | Tesla Model Y LR RWD | Ioniq 5 63 kWh Advance | Ioniq 5 84 kWh Advance | |
|---|---|---|---|---|
| UK list price | £44,990 | £44,990 | £40,695 | £44,195 |
| Battery | 60 kWh usable | not disclosed | 63 kWh | 84 kWh (80 kWh usable) |
| WLTP range | 314 miles | 383 miles | 273 miles | 354 miles |
| Peak DC charging | 175 kW | not disclosed | up to 260 kW | up to 260 kW |
| Boot (seats up) | 854 litres | 854 litres | 520 litres | 520 litres |
| Front boot | 117 litres | 117 litres | 57 litres | 57 litres |
Which is cheaper to run per mile?
The Model Y is about 15 per cent cheaper to charge per mile, because it uses less electricity to cover the same distance. Green Car Guide gives the Model Y RWD an official 21.8 kWh per 100 miles (4.59 miles per kWh). EVSpecs gives the Ioniq 5 84 kWh RWD 16 kWh per 100 km on the WLTP test, which converts to 25.7 kWh per 100 miles.
EV Compared’s cost per mile: kWh per mile × price per kWh. Model Y: 0.218 × 8p = 1.7p; Ioniq 5 84 kWh: 0.257 × 8p = 2.1p.
| Charging at | Price per kWh | Model Y RWD per mile | Ioniq 5 84 kWh RWD per mile | Model Y, 10,000 miles | Ioniq 5, 10,000 miles |
|---|---|---|---|---|---|
| Home off-peak EV tariff | 8p | 1.7p | 2.1p | £174 | £206 |
| Home, price cap (Oct to Dec 2026) | 26.32p | 5.7p | 6.8p | £574 | £678 |
| Public rapid (Zapmap, Sept 2026) | 79p | 17.2p | 20.3p | £1,722 | £2,034 |
The inputs are the home off-peak rate of 8p/kWh used in our methodology, the price cap unit rate of 26.32p/kWh for October to December 2026, and the Zapmap average rapid price of 79p/kWh for September 2026. Intelligent Octopus Go now charges 6.5p/kWh off peak, which brings the home figures down to 1.4p a mile for the Model Y and 1.7p for the Ioniq 5.
On a home tariff, the gap is £32 a year over 10,000 miles, which will not decide the purchase. It matters more for drivers without a driveway: if every mile came from public rapid chargers, the Model Y would save about £312 a year. Tesla drivers can also use Supercharger pricing rather than the 79p network average; see Tesla Supercharger prices in the UK. For a model-by-model breakdown, read how much it costs to charge a Tesla.
These are official figures, and real-world results will be lower for both. Auto Express recorded 3.1 miles per kWh from the Ioniq 5 in spring, while Carwow managed 3.3 miles per kWh from the Model Y on its own test route.
Which has more range?
The Ioniq 5 84 kWh has more range than the entry Model Y, but less than the Model Y Long Range. The 84 kWh rear-wheel-drive Ioniq 5 is rated at 354 miles WLTP, against 314 miles for the Model Y RWD and 383 miles for the Model Y Long Range RWD. The 63 kWh Ioniq 5 is rated at 273 miles, and the dual-motor 84 kWh Ioniq 5 at 307 miles according to Carwow.
Winter cuts both. EV Database estimates the entry Model Y covers about 195 miles in cold weather on a combined route. The Ioniq 5 carries a larger battery, so on long winter motorway trips the 84 kWh car’s bigger buffer offsets some of its efficiency deficit.
Which charges faster?
The Ioniq 5 charges faster at a high-power charger. Its 800-volt system accepts up to 260 kW according to Hyundai, and Auto Express quotes 10 to 80 per cent in about 18 minutes on a 350 kW unit. The entry Model Y peaks at 175 kW, and Carwow quotes about 25 minutes for 20 to 80 per cent.
The catch is that the Ioniq 5 only reaches those speeds on 350 kW chargers, which are found on selected routes. The Model Y’s advantage is the Supercharger network: the car plans charging stops in its navigation and preconditions the battery on the way. The Ioniq 5 uses the same CCS connector, so it can use the Supercharger sites Tesla has opened to other makes, at non-Tesla prices unless the driver buys a Supercharger membership.
Which is more practical for a family?
The Model Y has the larger boot by a wide margin. It offers 854 litres with the rear seats up plus a 117-litre front boot, according to Green Car Guide. The Ioniq 5 offers 520 litres, rising to 1,580 litres with the seats folded, and a 57-litre front boot in rear-wheel-drive form (24 litres with all-wheel drive), according to Carwow. Auto Express also notes the Ioniq 5’s boot floor is shallow.
The Ioniq 5 claws some ground back inside, with a long wheelbase and generous rear legroom. Its cabin uses more physical switchgear than the Model Y, where almost every function runs through the central touchscreen.
Which is cheaper as a company car?
The entry Ioniq 5 is cheaper as a company car because benefit-in-kind is charged on list price, and both cars pay the same 4% rate in 2026/27.
| Car | List price | Annual BIK, 20% taxpayer | Annual BIK, 40% taxpayer | Monthly, 40% taxpayer |
|---|---|---|---|---|
| Tesla Model Y RWD | £44,990 | £360 | £720 | £60 |
| Ioniq 5 63 kWh Advance | £40,695 | £326 | £651 | £54 |
| Ioniq 5 84 kWh Advance | £44,195 | £354 | £707 | £59 |
Method: list price × 4% × your income tax rate. On salary sacrifice the two are close enough that the lease rate and the running cost gap matter more than the tax. Our Tesla company car tax guide covers the rest of the Tesla range.
From 1 April 2026 the expensive car supplement applies to electric cars listed above £50,000. Both entry cars sit below it, but the Ioniq 5 84 kWh Ultimate at £50,255 and the dual-motor versions do not, so they pay an extra £440 a year in vehicle tax from the second year.
Model Y or Ioniq 5: which should you buy?
Buy the Tesla Model Y if:
- You do high mileage or rely on public charging, where its efficiency saves around £300 a year per 10,000 rapid-charged miles
- You need the biggest boot for the money
- You want the Supercharger network built into the car’s route planning
Buy the Hyundai Ioniq 5 if:
- You want the lowest entry price, at £4,295 less than the Model Y
- You want more range than the entry Model Y without paying more, in the 84 kWh Advance
- You value the quickest stops on 350 kW chargers and a more conventional cabin
For most buyers who charge at home, running costs between the two are close enough that price, boot space and the cabin should decide it. If you are still choosing between Teslas, see which Tesla to buy in the UK, and for the Ioniq 5’s closest relative, read our Kia EV6 vs Hyundai Ioniq 5 comparison.
How we test and where our numbers come from
Range figures are official WLTP combined values taken from manufacturer UK specification pages, with real-world estimates drawn from independent comparative testing. Prices are UK list prices at the time of the latest update. Tax, grant and charging-scheme figures come from GOV.UK and HMRC publications. We re-check every guide when pricing, specification or policy changes. Last checked 1 November 2026. How we work out our own figures.
Frequently asked questions
Is the Tesla Model Y or Hyundai Ioniq 5 better?
The Tesla Model Y is better for efficiency, boot space and running costs, while the Hyundai Ioniq 5 is better for a lower entry price, faster charging on the right charger and longer range than the entry Model Y. Buyers who cover long motorway miles and pay for public charging will save more with the Tesla; buyers who want the cheapest way in should look at the Ioniq 5.
Which is cheaper to run, the Model Y or the Ioniq 5?
The Model Y is cheaper to run. On official efficiency figures it uses about 21.8 kWh per 100 miles against about 25.7 kWh for the Ioniq 5 84 kWh RWD, so it costs 1.7p a mile at 8p/kWh at home against 2.1p, and 17.2p a mile at 79p/kWh public rapid prices against 20.3p.
Which has more range, the Tesla Model Y or the Ioniq 5?
It depends on the version. The Ioniq 5 84 kWh RWD has a 354-mile WLTP range, beating the 314 miles of the entry Model Y, but the Model Y Long Range RWD is rated at 383 miles. The 63 kWh Ioniq 5 is rated at 273 miles.
Which charges faster, the Model Y or the Ioniq 5?
The Ioniq 5 charges faster on a high-power charger. Its 800-volt system accepts up to 260 kW according to Hyundai, and Auto Express quotes 10 to 80 per cent in about 18 minutes on a 350 kW unit. Carwow quotes about 25 minutes for 20 to 80 per cent in the entry Model Y, which peaks at 175 kW.
Which has the bigger boot, the Model Y or the Ioniq 5?
The Model Y has the bigger boot by a wide margin. It offers 854 litres with the rear seats up plus a 117-litre front boot, while the Ioniq 5 has 520 litres, 1,580 litres with the seats folded, and a 57-litre front boot in rear-wheel-drive form.
Do the Model Y and Ioniq 5 pay the expensive car supplement?
The entry versions of both do not, because they are listed below the £50,000 threshold that applies to electric cars from 1 April 2026. Ioniq 5 trims listed above £50,000, such as the 84 kWh Ultimate at £50,255 on Carwow, pay an extra £440 a year from the second year of tax.
Sources and further reading
- hyundai.comHyundai IONIQ 5Ioniq 5 from £40,695, 63 kWh and 84 kWh batteries, 800-volt system accepting up to 260 kW, and finance offers for orders between 1 October 2026 and 4 January 2027.
- carwow.co.ukHyundai Ioniq 5 Review 2026Ioniq 5 RRPs by trim (Advance 63 kWh £40,695, Advance 84 kWh £44,195, Ultimate 84 kWh £50,255), 273, 354 and 307-mile WLTP ranges, and boot space of 520 litres, 1,580 litres folded and a 57-litre RWD front boot (24 litres AWD).
- autoexpress.co.ukHyundai Ioniq 5 review 202610 to 80 per cent charging in about 18 minutes on a 350 kW charger, a tested 3.1 miles per kWh in spring, and a shallow boot.
- evspecs.orgHyundai IONIQ 5 84 kWh RWD tech specsWLTP consumption of 16 kWh/100 km (low test energy) for the Ioniq 5 84 kWh RWD, with an 80 kWh usable battery; used for our cost per mile figure.
- greencarguide.co.ukTesla Model Y Rear-Wheel Drive 2026 reviewModel Y RWD efficiency of 4.59 miles per kWh (21.8 kWh/100 miles), 60 kWh LFP battery, 314-mile WLTP range, 854-litre boot and 117-litre front boot; used for our cost per mile figure.
- ev-database.orgTesla Model Y RWD (Juniper)Model Y RWD at £44,990 on the road with a 60 kWh usable battery, 175 kW peak charging and an estimated 195-mile cold-weather range.
- carwow.co.ukTesla Model Y Review 2026Model Y RRP of £44,990, 175 kW DC peak, 20 to 80 per cent in about 25 minutes, and 3.3 miles per kWh on Carwow's test route.
- electrive.comTesla brings Model Y Long Range RWD to the UKModel Y Long Range RWD from £44,990 with a 383-mile WLTP range on 19-inch wheels, reported in February 2026.
- zapmap.comCharging Price IndexAverage pay-as-you-go rapid and ultra-rapid charging price of 79p/kWh in September 2026.
- energymadeeasy.co.ukEnergy price cap October 2026Electricity unit rate of 26.32p/kWh under the price cap from October to December 2026.
- octopus.energyIntelligent Octopus GoIntelligent Octopus Go off-peak EV charging rate of 6.5p/kWh.
- gov.ukVehicle tax for electric and low emissions vehiclesExpensive car supplement applies to electric cars with a list price above £50,000.
EV Compared
The EV Compared editorial team tracks the UK electric vehicle market full time: new model launches, list prices, WLTP and real-world range, public charging tariffs and the tax rules that decide what an EV actually costs to run. Every guide is checked against manufacturer specifications and official GOV.UK figures, and updated whenever the numbers move.
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