Hyundai Malaysia to lower ownership cost by as much as 20% – older models like Ioniq Hybrid in the works

Continuing with its outline of its 2026 plans, Hyundai Motor Malaysia (HMY) has announced it will lower the ownership costs of its three current models by as much as 20%. This follows a similar move by Kia Sales Malaysia (KSM) to slash parts prices by up to 15% when it began operations at the start of the year.

Ownership costs will drop by up to 16% for the Staria and 15% for the Santa Fe, with the Tucson getting the full 20% reduction. Details remain light for now, and it’s unclear whether the lower costs come from cheaper parts or reduced servicing and/or labour costs. However, managing director Jahabarnisa Haja Mohideen said the company is looking at options in both areas, including negotiating prices with vendors.

During her speech, Jahabarnisa also mentioned that moving forward, HMY will be working on lowering ownership costs for older models such as the Ioniq Hybrid. This should encourage owners of these cars to come back to official service centres for their maintenance needs.

Speaking of hybrids, HMY is looking to reduce the prices of battery replacements for its newer hybrid models, the Tucson Hybrid and the Santa Fe Hybrid. Jahabarnisa touted the modular batteries on these cars, which allow the replacement of just the faulty cells.

These after-sales initiatives will go hand-in-hand with HMY’s already-announced initiatives that include an eight-year/160,000 km warranty on all models. They will also be supported by an expanded sales and service network that will grow from 12 to 25 outlets this year. New products planned for this year include the Ioniq 5 N and Ioniq 6 N as well as the Stargazer MPV.