Here’s how much a 2020 Hyundai Kona Electric has depreciated after 5 years

If the Chevy Bolt was the sensible shoes of the 2020 EV market, the Hyundai Kona Electric was the pair of trendy sneakers. It had cladding. It had attitude. It had a front bumper that looked like a Stormtrooper who forgot to put in his mouthguard.

In November 2020, the Kona Electric was riding high. It offered a legit 258 miles of range—beating the Bolt and the standard Tesla Model 3—and it didn’t look like a science experiment. It just looked like a small SUV.

But five years is an eternity in the car world, and even longer in the EV world. Since 2020, Hyundai has launched the Ioniq 5, the Ioniq 6, and a completely redesigned, much larger Kona. So, has the original electric subcompact held its value, or has it been left in the dust by its own siblings?

Let’s crunch the numbers.

The question

We are looking at the volume seller: a 2020 Hyundai Kona Electric SEL. This was the base trim, but “base” meant something different in 2020—it still came well-equipped because automakers were terrified of selling stripped-down EVs.

In late 2020, a Kona Electric SEL carried a starting MSRP of $38,330 (including destination). If you opted for the Ultimate trim with the ventilated seats and head-up display, you were shelling out nearly $46,500.

That is a lot of money for a car with less rear legroom than a Honda Civic. So, what is that investment worth today?

The numbers

According to current market listings in late 2025:

• 2020 Hyundai Kona Electric SEL (New): $38,330
• 2020 Hyundai Kona Electric SEL (Used, 2025): ~$15,800
• Depreciation: ~$22,530
• Value Retained: ~41%
• Percent Lost: ~59%

The Kona has fared slightly better than the Chevy Bolt (~39% retained), largely because it’s a crossover, and Americans will pay a premium for anything with plastic wheel arch cladding. However, losing nearly 60% of its value in five years is still a painful hit for the original owner.

How it compares

The Kona Electric sits in the middle of the pack—it’s not a disaster, but it’s not a vault, either.

• Chevy Bolt EV: The Kona commands a $1,500–$2,000 premium over a comparable Bolt. Why? It charges faster (77 kW peak vs the Bolt’s painfully slow 50 kW), and it generally feels less like an economy car inside.
• Kia Niro EV: The Kona’s fraternal twin. The Niro is boxier and has more cargo space, so it holds value slightly better, usually fetching $500–$800 more than the Kona.
• Tesla Model Y: Not a fair fight, but relevant. The Model Y didn’t really hit volume until later, but early ones hold value far better. However, a used Model Y is still double the price of a used Kona.

The “fire” wildcard

Just like the Chevy Bolt, the 2020 Kona Electric has a secret weapon in the used market, born from a PR nightmare.

The early Kona Electrics (2019-2020) used LG Chem batteries that were prone to… let’s call it “thermal events.” (They caught fire). Hyundai issued a massive recall and replaced the entire high-voltage battery pack in thousands of these vehicles.

This means if you are hunting for a 2020 Kona today, you can likely find one where the odometer says 60,000 miles, but the battery health report says “Brand New.” You are effectively getting a zero-mile powertrain in a five-year-old wrapper.

The verdict

If you bought a 2020 Kona Electric new, the depreciation stings, especially considering how much bigger and better the new 2024+ redesign is. You paid the early adopter tax, and the market has collected.

But for the used buyer? The 2020 Kona Electric is a fantastic sweet spot. It charges fast enough for modest road trips (unlike the Bolt), it has excellent range, and it’s fun to drive with 290 lb-ft of torque instantly shredding the front tires.

For under $16,000, you get a fun, punchy crossover that likely has a fresh battery. Just don’t try to put adults in the back seat.

Depreciation Grade: D (Standard EV drop)
Used Value Grade: A (If you don’t need rear legroom)