2024 Hyundai Creta Facelift Expected Price Range Calculation - With Logic

Note: These are our estimations based on the information available as of July 19, 2023. Once we get more details like new feature confirmations and variant-wise features, then we’ll update this article to reflect our latest opinion on the Creta facelift prices. If we come across any quotes or interviews of top Hyundai officials, then we’ll also carefully evaluate their tone and word choices with respect to the new Creta. Should their words give us enough reason to change our stance, we’ll factor those in and update this article to reflect the revisions.

Old Hyundai Creta Price

The previous version of the Creta came with a 1.35L turbo petrol engine but it was discontinued when the BS6-2 norms came into effect. Meanwhile, Hyundai were waiting for this moment to introduce the more powerful 1.5L turbo petrol engine to replace the 1.35L engine. Hence, we don’t have the most recent turbo petrol variants’ prices of the Creta to form a baseline.

*Discontinued

As you can notice, the petrol-automatic costs about Rs. 1.50 lakh more than the manual. Similarly, the diesel-automatic also costs Rs. 1.40 lakh more than diesel-manual powertrain. The diesel engine itself costs between Rs. 1.10 lakh and Rs. 1.50 lakh more than the comparable variants with a normal petrol engine.

Otherwise, you could say that as of July 2023, the Creta broadly costs between Rs. 11.0 lakh and Rs. 19.0 lakh.

There are a few things to consider before we jump to evaluating the price range of the upcoming Creta 2024:

• General market conditions
• Inflation, interest rates & liquidity
• Roadmap for the rivals

The 2024 Creta facelift is still a good 2-3 quarters away from going on sale. In that much time, a lot of things can change. So, let’s evaluate each of these separately starting with zooming in on the global macro economy.

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General Market Conditions

The equity market is not tightly coupled with the economy but it is more or less aligned. In the last 4 months or so, we have seen the primary indices (Nifty, BankNifty) jump almost 17% and it’s showing no signs of slowing down. However, a strong rally without a significant time correction (markets remaining flat) or price correction (markets dropping) seems unlikely. So, we can’t expect similar market performance in the next few months as we’ve witnessed in the last few.

Inflation, Interest Rates & Liquidity

Broadly, the inflation is under control as it has dropped from over +9% YoY to under +3% YoY in the US. While the Indian and American markets aren’t tightly coupled, it does give us a picture of what we should expect in India as there’s a mild correlation. So, for now, we’re expecting a small inflation to continue in the next few quarters, which is considered healthy for any expanding economy.

Speaking of interest rates, the US Federal Reserve have chosen to pause the interest rate hikes as the inflation seems to be under control but they’re leaving the possibility of resuming the rate hikes. The rate hikes bring the possibility of a market correction but if the hikes have been too sharp for too long, then they may cause a ripple effect and tank the equity markets along with the economy.

Currently, the yield curve (short-term minus long term bond yields) is inverted. This happens when the central banks (in this case the US’ Federal Reserve) have gone too far and too aggressively to contain inflation.

Except for the inversion in 1989, yield curve inversions have accurately predicted a crash. Even the 2020 Covid crash possibility was highlighted by this indicator. But, this is not a perfect indicator as timing is critical. Like the 2000 dot-com bubble, 2008 global financial crisis and 2020 Covid crash, if and when an economic blow will materialise is anyone’s guess. But we have to remain open to the possibility of a weak economy as higher interest rates suck the liquidity out of the broader population and buyers going back to critically evaluating their purchases — especially the discretionary ones.

Should the markets start showing signs of a slowdown, we could expect Hyundai to factor in tougher times and bring the Creta facelift at a competitive price.

Roadmap For Rivals

After a long time, we’re seeing the Creta and Seltos face some competition. The Astor, Kushaq and Taigun didn’t manage to put a dent in the Creta’s demand but the Grand Vitara and the Hyryder certainly had the potential to squeeze the demand for the Korean SUVs.

Surprisingly, the Grand Vitara is going strong but it seems to be eating into either other segments or low-volume players like the Astor, Kushaq and Taigun. This is because the Creta and Seltos are holding their own with solid, consistent volumes even after the 2 heavyweights joined the race in the C-SUV segment.

Even the arrival of Elevate and C3 Aircross won’t affect the Creta facelift’s prices as they’re now more confident than ever. If the Grand Vitara can’t affect the Creta’s sales, then the C3 Aircross and Elevate certainly don’t pose a serious threat.

Therefore, the road is clear for the Creta, at least from the competition point of view with Seltos being the only notable rival to worry about.

2024 Hyundai Creta Facelift Expected Price - Summary

Since we don’t have much information about the upcoming Creta 2024, not even how the economy might evolve in the coming months, we can only estimate the price range for the Creta facelift. Even in this aspect, we may be quite off the mark. But the inflation alone is likely to get the C-segment SUVs past the Rs. 20.0 lakh barrier. So, I would expect the 2024 Hyundai Creta price to start from around Rs. 11.50 lakh and go up to Rs. 20.70 lakh.

I arrived at these numbers with the assumption that we’ll have a flat-ish economy with mild growth prospects but no serious blows in the next few quarters. And that the competitive space will remain more or less similar to what it is right now.

Of course, I’m also taking the expected Seltos price range into consideration for this. Once the Seltos goes on sale, I’ll update these estimations if it significantly deviates from my expectations. To find out how much the Seltos facelift might cost and my logic behind the pricing, you can read the following article:

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I hope this article gives you some idea about the expected prices of the Creta facelift. If you have any further questions or you spot anything I missed and should have included in my estimations, please comment down below and I’ll go update this article. Either way, if any new piece of information emerges, which conflicts with my current opinion in this matter, I’ll revise my estimations and update this article. So, you can bookmark it if you’d like to get our latest estimations of the 2024 Hyundai Creta price.