Here’s how much a 2020 Hyundai Ioniq Electric has depreciated in 5 years

Before the pixelated Ioniq 5 stole the show, and before the streamlined Ioniq 6 won awards, there was just… the Ioniq. It was Hyundai’s three-pronged attack on the Toyota Prius (Hybrid, Plug-in, and Electric), packaged in a liftback shape that was aerodynamic, sensible, and almost aggressively boring.

November 2020 was a weird time for this car. It had just received a refresh that bumped the battery size to 38.3 kWh, increasing the range to a very usable 170 miles. On paper, it was the perfect commuter appliance.

But five years later, the “original” Ioniq has been largely forgotten, crushed between the hype of Tesla and the success of the Hyundai Kona. So, has this hyper-efficient ghost held its value, or has it vanished into the depreciation ether?

Let’s crunch the numbers.

The question

We are looking at the 2020 Hyundai Ioniq Electric SE. This was the base trim, but since Hyundai was trying to court early adopters, it still came with decent tech features like an 8-inch screen and adaptive cruise control.

In November 2020, an Ioniq Electric SE carried a starting MSRP of $33,245. If you wanted the Limited trim with the leather and the sunroof, you were paying $38,815.

That was cheaper than a Bolt or a Kona, making it one of the most affordable EVs on the market. Did that lower entry price protect it from the drop?

The numbers

According to current market listings in late 2025:

• 2020 Hyundai Ioniq Electric SE (New): $33,245
• 2020 Hyundai Ioniq Electric SE (Used, 2025): ~$11,800
• Depreciation: ~$21,445
• Value Retained: ~35%
• Percent Lost: ~65%

This is a bloodbath. A 65% drop puts the Ioniq Electric dangerously close to Nissan Leaf territory. While it hasn’t quite hit the 70% “total collapse” of the BMW i3, it is definitely performing worse than the Kona or Niro. It turns out, nobody is looking for a 170-mile electric sedan that looks like a 2016 Prius.

How it compares

The Ioniq suffers from “Middle Child Syndrome”—it wasn’t the first, and it wasn’t the best.

• Toyota Prius Prime: The car the Ioniq was trying to kill. The Plug-in Hybrid Prius has retained roughly 55-60% of its value. The market still trusts the Toyota badge and the gas backup plan far more than the orphaned Hyundai EV.
• Nissan Leaf Plus: The Ioniq trades blows with the Leaf. You can get a Leaf Plus (215 miles range) for about the same price ($11-12k). The Leaf goes further, but the Ioniq has a liquid-cooled battery (mostly) and a CCS port, making it slightly more future-proof.
• Hyundai Kona Electric: The Kona costs about $4,000 more on the used market. Buyers clearly prefer the crossover shape and the 258-mile range over the Ioniq’s sedan layout and 170-mile tether.

The “charging speed” wildcard

Here is the secret that tanks the value of the 2020 Ioniq for enthusiasts: it charges slower than the older model.

The pre-2020 Ioniq (28 kWh) was legendary for charging at near 70 kW speeds, filling up in 20 minutes. When Hyundai upgraded the battery to 38.3 kWh for the 2020 model, they changed the chemistry. The result? The 2020 model struggles to pull more than 35 kW on a fast charger.

This means a “quick top-up” takes nearly an hour. In a world where the Ioniq 5 charges in 18 minutes, the 2020 Ioniq Electric feels ancient at the plug. Informed buyers know this and avoid the 2020+ models if they plan to do any highway driving, driving the price down further.

The verdict

If you bought a 2020 Ioniq Electric new, you bought a logic puzzle that the market couldn’t solve. You paid $33k for a car that was more efficient than a Tesla but charged slower than a Chevy Bolt. You lost over $21,000 for the privilege of driving the most aerodynamic brick on the road.

But for the used buyer? This is the ultimate commuter appliance.

If you have a home charger and drive less than 120 miles a day, this is a better car than the Leaf. It uses the standard CCS plug (so you can charge anywhere), it is insanely efficient (getting 4 to 5 miles per kWh easily), and it’s dirt cheap. For under $12,000, you get a reliable, comfortable runabout that costs pennies to run. Just don’t try to drive it to Disney World.

Depreciation Grade: D- (Near total loss of relevance)
Used Value Grade: B+ (The hyper-miler’s bargain)