Hyundai Ioniq 5 Premium EV (2023)

Estimated running costs and MOT pass rates from 106 MOT tests in 2024.

Annual Cost

£1,010

£84/month

MOT Pass Rate

99%

Excellent

Road Tax

£200

Standard rate/year

Est. Insurance

n/a

Electric

Great Choice

99% pass rate, £1,010/year to run. 17 points above average.

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Electric3 years old106 tests28k miles avg

Annual Running Costs

Electricity

Home charging at about 7.5p a mile

£555

Road Tax

Standard rate (from April 2017)

£200

MOT Test

£55

Predicted Repairs

Low estimate due to excellent reliability

£200

Total per year£1,010

Per month£84/mo

Per week£19/wk

Estimates based on 7,400 miles/year (UK average), home charging at about 7.5p a mile, GOV.UK road tax rates and repair likelihood from MOT data. Insurance not included. Cars registered from April 2017 pay the £200 standard rate, plus £440 a year for five years (from the second year) if they cost over £40,000 new (over £50,000 for electric cars).

Reliability Verdict

99% MOT pass rate(Excellent)

0%All-model avg: 82%100%

Excellent reliability. Very few MOT failures. That's 17 points above the average of 82% across all models in our data. It also outperforms the Hyundai brand average of 83%.

99% of MOT tests on Hyundai Ioniq 5 Premium EVs from 2023 ended in a pass in 2024, when they were about a year old. That's based on 106 tests across the UK, retests included. The average mileage recorded at those tests was 28,193 miles.

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How Does It Compare?

Rank among 2023 models27th of 165(top 17%)

Rank among Hyundai models11th of 414(top 3%)

vs average of all models+17%(82% avg)

vs 2023 models average+4%(95% avg)

vs Hyundai average+16%(83% avg)

Mileage Analysis

28,193

Average miles

7,400

Expected for age

The average 2023 Hyundai Ioniq 5 Premium EV had 28,193 miles on the clock at its 2024 MOT, which is well above the expected 7,400 miles for a 1-year-old car. Check service history carefully, as high-mileage cars need consistent maintenance to stay reliable.

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Hyundai Ioniq 5 Premium EV by Year

Year	Pass Rate	Tests	Avg Mileage
2023	99%	106	28,193 mi
2022	96%	533	53,051 mi
2021	96%	2,077	33,743 mi

Similar Cars to Consider

Tesla Model 3 Long Range Awd

2021 · Electric

£1,160/year

88%

-11%

Tesla Model 3 Standard Range +

2021 · Electric

£1,160/year

88%

-11%

Nissan Leaf

2021 · Electric

£1,010/year

94%

-5%

Kia Niro 4 + EV

2021 · Electric

£1,010/year

93%

-6%

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About the 2023 Hyundai Ioniq 5 Premium EV

The 2023 Hyundai Ioniq 5 Premium EV is an electric car. Our records list it as electric. 106 MOT tests were recorded on this model in 2024, making it a rare model on UK roads. It ranks in the top 17% of all 2023 models for MOT pass rate.

With an average of 28,193 miles recorded at its 2024 MOT tests, Hyundai Ioniq 5 Premium EV owners cover more miles than the average driver. High-mileage examples should be checked carefully for wear on suspension, brakes, and drivetrain components.

What does it cost to own a 2023 Hyundai Ioniq 5 Premium EV?

Total estimated annual running cost is £1,010 (£84/month), broken down as £555 electricity, £200 road tax, £55 MOT, and £200 predicted repairs. The low repair estimate reflects the excellent 99% pass rate. These cars rarely fail their MOT, so unexpected bills are less likely.

Buying a Used 2023 Hyundai Ioniq 5 Premium EV

At 3 years old, this is still relatively fresh. You may find examples with remaining manufacturer warranty. Depreciation is slowing but hasn't bottomed out yet.

Common Issues to Watch For

These are typical issues for cars of this age, fuel type and engine size, not faults recorded on this model's MOT tests. Use them as a checklist when you view one.

Battery Degradation

Medium risk

After 3 years, expect some battery capacity loss. Check the battery health report for state of health (SoH). Below 80% significantly reduces range.

Charging Port

Medium risk

Charging connectors and ports can develop issues from regular use. Check both AC and DC charging work correctly before purchasing.

Software Updates

Low risk

Older EVs may miss out on manufacturer software updates that improve range and features. Check the infotainment system is up to date.

12V Auxiliary Battery

Low risk

EVs still have a standard 12V battery for accessories. These drain faster than in petrol cars and can leave you stranded if flat. Replacement is £100-£200.

Service History

Low risk

Always request a full service history. Regular servicing is the single best indicator of how well a car has been maintained, regardless of mileage.

Running Costs Compared

How the 2023 Hyundai Ioniq 5 Premium EV stacks up against similar cars for estimated annual running costs, insurance group, and tax.

Car	Pass Rate	Fuel/yr	Tax/yr	Est. Ins. Group	Total/yr
Hyundai Ioniq 5 Premium EV(2023)	99%	£555	£200	n/a	£1,010
Tesla Model 3 Long Range Awd(2021)	88%	£555	£200	n/a	£1,160+£150
Tesla Model 3 Standard Range +(2021)	88%	£555	£200	n/a	£1,160+£150
Nissan Leaf(2021)	94%	£555	£200	n/a	£1,010same
Kia Niro 4 + EV(2021)	93%	£555	£200	n/a	£1,010same

Estimates based on 7,400 miles/year, GOV.UK average pump prices for the week of 19 October 2026, GOV.UK road tax rates and MOT data. Insurance groups are our rough estimate from engine size, not official groups. Actual costs vary by driver, location, and usage.

Questions about the 2023 Hyundai Ioniq 5 Premium EV

Is the 2023 Hyundai Ioniq 5 Premium EV reliable?

Excellent reliability. Very few MOT failures. 99% of MOT tests on 2023 Hyundai Ioniq 5 Premium EVs ended in a pass, from 106 tests (DVSA MOT data for tests in 2024, retests included). That's 17 points above the average of 82% across all models in the same data.

How much does a 2023 Hyundai Ioniq 5 Premium EV cost to run?

Our estimate is £1,010 a year (£84 a month): £555 electricity, £200 road tax, £55 MOT and £200 predicted repairs, based on 7,400 miles a year. Insurance is not included.

What is the MOT pass rate for a 2023 Hyundai Ioniq 5 Premium EV?

99% of 106 MOT tests on the 2023 Hyundai Ioniq 5 Premium EV ended in a pass (DVSA MOT data for tests in 2024, retests included). That ranks it 27th of 165 models first registered in 2023 (top 17%).

What is the average mileage for a 2023 Hyundai Ioniq 5 Premium EV?

The average mileage recorded at MOT tests on the 2023 Hyundai Ioniq 5 Premium EV is 28,193 miles, which is well above the expected 7,400 miles for a 1-year-old car. Check service history carefully, as high-mileage cars need consistent maintenance to stay reliable.