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The Pontiac Wave5 was a variant of the Pontiac Wave, which was a subcompact car sold by General Motors under the Pontiac brand in Canada. Like the Wave, the Wave5 was based on the Chevrolet Aveo, which was manufactured by GM Daewoo (later GM Korea) in South Korea.

The "Wave5" designation indicated that this particular model was a five-door hatchback version of the Pontiac Wave. It provided additional practicality and cargo space compared to the sedan variant, making it a popular choice for customers who needed extra versatility.

As with the Pontiac Wave, the production of the Pontiac Wave5 also ceased after the discontinuation of the Pontiac brand in 2010 as part of General Motors' restructuring efforts during the economic downturn. The Chevrolet Aveo continued to be sold in Canada and other markets under the Chevrolet brand until it was eventually replaced by newer models.