The latest SUV to hit our shores will turn heads with its looks and performance, and it delivers a serious hit of hi-tech motoring for a surprising price. Hyundai has taken a bold approach with its new electric.

The boldly styled Hyundai Ioniq 5 goes on sale this month in Australia, priced from $71,500 (before on-road costs).

That makes it dearer than being the best-selling electric car in Australia, Tesla’s Model 3.

The price also means it misses out on incentives from states such as NSW and Victoria.

NSW offers a $3000 cash incentive and waiving of stamp duty for electric cars under $68,750. Victoria has a similar cut-off for its $3000 cashback program.

Buyers keen on the Ioniq 5 won’t be able to place an order in a dealership. Instead, the whole order process is done online only.

Hyundai is selling the Ioniq 5 directly to customers, with 10 dealerships delivering the vehicles.

The brand follows a similar model to Mercedes-Benz, which cut out dealerships and sold the EQC directly to customers.

Honda has moved its entire range to an agency model, where the head office owns all the vehicles and dealerships simply deliver and service vehicles.

Hyundai said this type of arrangement will only apply to the Ioniq 5 at this point. All other vehicles, including the Ioniq and Kona electric vehicles, remain on sale in traditional showrooms. Hyundai Australia will have only 400 Ioniq 5s at first. Buyers need to secure their car with a $2000 deposit.

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