Prices up for 2023 Venue, Santa Fe, N and N Line models as Hyundai passes on rising costs to customers

Prices on new Hyundai models have risen by up to $2000 as the cost of building them jumps up due to the prices of raw materials and upward pressure across the industry from global inflation.

“[Hyundai Australia] has been experiencing an unprecedented rise in raw material costs globally, combined with significant inflationary pressure across the total supply chain, which we can no longer absorb in full,” the company said in a statement.

“N and N Line variants across our range have been impacted by increasing cost of supply, the specialised nature of this product, and exchange rate pressures within the global market. Our European sourced models have been impacted further by instability within the region.

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“In this case, price rises were inevitable and a factor of unprecedented economic conditions, especially increased costs across the supply chain. It’s highly unfortunate and certainly not something we had planned, but we are doing our very best to shore up supply and keep disruption and disappointment to a minimum.”

The price rises apply to 42 percent of the company’s local line-up, and impact a range of Hyundai’s most popular models like the i30, Tucson, Venue and Kona. Some models are unaffected, with i30 base, Active and Elite grades untouched, along with Staria, Staria Load and Palisade, but anyone looking at placing an order for N or N Line badged product will need to budget that little bit more.

Hyundai’s compact i20 N bears the biggest increase, leaping up by $2000 to a new RRP of $34,990 before on-roads. Above it in the i30 family, all i30 N Line and i30 N variants, whether manual or automatic, sedan or hatch, cop a price jump as well, with N Lines going up by $500 and the i30 N hot hatch and sedan rising by $1200 – putting four i30 variants north of the $50,000 barrier with the most expensive i30 variant, the i30 N Premium auto with sunroof, now costing $53,700 before on-roads.

Hyundai Australia also mentioned that waiting times for the i20 N and i30 N continue to stretch out, with orders for i20 Ns likely to result in a 12 to 24-month waiting time, and a 12-plus wait time for new-build i30 N hatchbacks forecast. The company suggested that the Kona N and i30 N sedan could enable a faster delivery time for customers seeking that powertrain in particular.

The Sonata N Line, the sole Sonata variant currently on sale in this country, rises by $500, while the Kona N Line goes up by the same amount taking those models to $52,065 and $37,100 respectively ($43,200 for the Kona N-Line Premium). Meanwhile the Kona N performance SUV gets a $1200 price adjustment to sit at $49,200, or $52,200 in Kona N Premium form.

The rest of the Kona family escapes any price increases however, including the all-electric Kona EV Elite and Highlander. The Venue isn’t as lucky – all variants go up by $500 – while the Santa Fe also wears a $500 imposte across its entire range, making its price window stretch from $46,050 for the base Santa Fe petrol V6 FWD, to $66,550 for the range-topping Highlander diesel AWD.

Meanwhile the Tucson, Hyundai’s second-most popular model after the i30, escapes across-the board price increases, with just N Line variants going up by $500 and the rest of the range remaining static.

There are no price changes for the Staria or Staria load, Palisade and Ioniq 5. For a detailed list of models affected by Hyundai’s price increases, see below.

2023 Hyundai i20 N pricing before on-road costs

2022 Hyundai i30 hatchback pricing before on-road costs

2023 Hyundai i30 Sedan pricing before on-road costs

2023 Hyundai Sonata pricing before on-road costs

2023 Hyundai Venue pricing before on-road costs

2023 Hyundai Kona pricing before on-road costs

2023 Hyundai Tucson pricing before on-road costs

2023 Hyundai Santa Fe pricing before on-road costs