Hyundai Australia Raises Prices Up To $2000, Existing Orders Unprotected

Hyundai Australia will increase prices for a number of models from August 1, with the company’s N-series performance cars being the hardest hit.

Effective from next month, prices about 42 percent off Hyundais local range will increase due to several factors related to rising material costs and inflationary pressures, with no associated increase in standard equipment.

The city format i20 No hot hatch will receive the biggest increase, at $2,000, as orders for the model have closed, after waiting periods of 12 to 24 months, and more than 1,600 customers have placed their names since September.

Existing orders will not be protected from the price increases, with the new prices applying to “all vehicles invoiced from August 1, 2022”.

†[Hyundai Motor Company Australia, or HMCA] has experienced an unprecedented rise in raw material costs worldwide, combined with significant inflationary pressures across the entire supply chain, which we can no longer fully absorb,” the company said in a statement.

“N and N Line variants in our range have been impacted by rising delivery costs, the specialized nature of this product and the pressure on global exchange rates. Our models of European origin have been further impacted by the instability in the region.”

Speaking further about the higher price increases for N models, Hyundai said: “In this case, price increases were inevitable and a factor of unprecedented economic conditions, especially higher costs in the supply chain.”

“It’s very unfortunate and certainly not something we intended, but we are doing our very best to keep supplies up and minimize disruption and disappointment.”

Hyundai Australia says i20 N order books have been closed to “avoid customer disappointment”, assuring eager buyers that “once our production allocation catches up with the order bank, HMCA will start taking orders again.”

As reported by Motivewait times for the European-built i30 N hatch have risen by 12 months, while Hyundai now says wait times for the i20 N have been between 12 and 24 months.

“The current production availability of Kona N offers an alternative for customers waiting for an i30 N hatch,” said Hyundai Australia.

Below are price lists for all affected Hyundai models: