Hyundai i20 N: $2000 price increase confirmed in Australia effective August, new orders suspended

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On 1 August 2022 the price of the Hyundai i20 N hot hatch in Australia will increase by $2000 to $34,990 before on-road costs.

Wait times for the affordable hot hatch now extend out beyond 12 months to mid-2023, with some customers facing 24 month wait times. Orders have now been stopped as Hyundai deals with the burgeoning backlog.

Chasing Cars is currently running the 150kW, 1.6-litre turbocharged 2022 i20 N as a long-term vehicle, and you can read about our time with the vehicle here.

The price increase was communicated privately by dealers to customers earlier this month with Hyundai Motor Company Australia (HMCA) confirming details of the increase to Chasing Cars this evening.

Previous prices not being honoured for all

Chasing Cars understands a number of Australian buyers awaiting delivery of an i20 N have been contacted by dealers advising them that they will be required to pay the additional $2000 in order to complete the transaction and take delivery of the vehicle.

Dealers do not appear to be honouring the previous, $2000-lower price for the i20 N, with one dealer telling an Australian buyer that while it had honoured the previous price for one customer, it could not afford to continue the practice and had decided to pass on the price increase in full.

The i20 N is just one of 11 Hyundai models sold in Australia that will see its price increase in August – but the increase on the i20 N is the most dramatic in monetary terms at $2000. By contrast, the i30 N hot hatch will increase in price by a more modest $1200.

Inflation, supply costs and Russia’s war on Ukraine to blame

HMCA blamed the August price increase on “an unprecedented rise in raw material costs globally, combined with significant inflationary pressure across the total supply chain.”

The South Korean manufacturer said it regretted the decision to increase prices and noted that it could “no longer absorb” the cost pressures it indicated it had faced – and privately borne – for some time.

In addition, Hyundai said the geopolitical situation in central Europe had come to bear on the Turkish-built i20 N, with a senior source telling Chasing Cars that the company’s “European sourced models have been impacted further by instability within the region.”

The $2000 price increase the i20 N represents a six percent increase in the cost of the vehicle, which moves up from $32,990 to $34,990. The $1200 bump to the Korean-made i30 N is about a 2.5 percent price increase.

“We value and respect Australians’ enthusiasm for our performance cars and we are doing all that we can to minimise wait times and avoid disappointment for customers,” said a senior HMCA source.

The i20 N’s closest rival, the Ford Fiesta ST, remains priced at $33,490 before on-road costs, while the Volkswagen Polo GTI recently increased in price in facelifted form to $38,750 BOCS.

A confidential dealer bulletin seen by Chasing Cars reveals that the wait time for an i20 N is now 12 months and beyond.

The same wait time applies for the larger i30 N hatchback. Wait times are much shorter for the related Kona N small SUV (beyond seven months), and even shorter for the i30 Sedan N (beyond three months).

Hyundai i20 N 2022: prices in Australia

All prices listed are before on-road costs.

• i20 N: $34,990 (from 1 August 2022)
• i20 N (with two-tone roof): $35,990 (from 1 August 2022)