Top 5 cars launched in 2024 for between Rs 20 lakh and Rs 40 lakh

Top 5 cars launched in 2024 for between Rs 20 lakh and Rs 40 lakh

Here are five interesting new releases you should be aware of if you intend to purchase a car this year and have a budget between Rs 20 lakh and Rs 40 lakh. With the lineup of the most awaited releases in 2024, ET Wealth and are ready to help you in making your car purchase selection.


The second generation Creta was debuted in India in 2020, and since then, Hyundai has given it a major makeover. Compared to its extreme styling earlier, it now has a more widely accepted design. The cabin now has a slightly more upscale air about it. The 10.25-inch digital driver display, dual-zone climate control, 360-degree camera, and ADAS are among the feature improvements.

The new Creta has the 1.5-liter turbo petrol engine (160 PS/253 Nm), mated exclusively with a DCT automatic transmission, while keeping the gasoline and diesel powertrain options from the outgoing model. While the 1.5-liter diesel engine (116 PS/250 Nm) has six-speed MT and six-speed AT, the standard 1.5-liter petrol engine (115 PS/144 Nm) has six-speed MT and CVT.

Does it make sense to buy? Absolutely. Because of its more sharper design, enhanced features, and wide range of powertrain choices, the Creta is safer and more luxurious.

The range of prices

  • Launch Date: January 16; Rs. 11-20.15 lakh

RUNNING COST: (per month)

  • Petrol costs Rs. 5,115, while diesel costs Rs. 4,032.

LOAN EMI (5 years)

  • Rs. 18,697–34,250

EXPECTED RESALE (after 3 years)

  • 7.2–13.1 lakh rupees


  • Type of fuel: diesel and petroleum
  • Engine capacity: 1.5 litre (petrol); 1.5 litre (diesel)
  • Claimed mileage: 17 km/l (petrol); 20 km/l (diesel)


It has taken a while for the Mahindra THAR 5-door to arrive. In addition to having more doors and a larger cabin, it will have additional features like a sunroof and a larger infotainment system. Six airbags, push-button start/stop, and dual-zone climate control with rear AC vents are among the other anticipated feature upgrades. Together with the three-door Thar, a new name and unique identity will be given to the more sensible Thar. All-LED lighting and a revised grille have been alluded to by a few test mules. It is probably going to come with an option of four-wheel drive or rear-wheel drive, and two-liter turbo petrol and two-liter diesel engines. For both engines, six-speed manual and six-speed automatic transmissions are available.

Is the wait worth it? Indeed. You should absolutely get the more useful three-door Thar variant if that’s what you’ve always desired.

Expected price range

  • Rs.15-22 lakh
  • Expected launch: August

RUNNING COST (per month)

  • 4,740 (diesel) and 6,692 (petrol)

LOAN EMI (5-year period)

  • Rs.25,496-37,395

ANTICIPATED RESALE (in three years)

  • Rs.9.8-14.3 lakh


  • Fuel type: diesel and petroleum
  • Engine capacity: 2.0 L (turbo petrol); 2.2 L (diesel)
  • Mileage claimed: 13 km/l for petrol and 17 km/l for diesel.


VW ENTRIED Its plans to enter the Indian market in 2021 with the Taigun compact SUV launch herald a new phase. Under a different name, it is also offered internationally in areas such as Brazil, where it has already undergone a small facelift. India-spec Taigun is expected to receive a similar makeover. Its exterior is likely to get new front and rear styling, which will make it look less boxy and have smoother lines.

There won’t likely be any major interior design changes. It already includes a digital driver’s display, ventilated front seats, and a 10-inch touchscreen infotainment system. The same 1.5-liter (150 PS/250 Nm) and 1-liter (115 PS/178 Nm) turbo petrol engines with six-speed manual transmission are probably going to be used. The smaller engine will have two options: a seven-speed DCT automatic transmission or a six-speed AT.

Is the wait worth it? Maybe. It isn’t expected that any significant feature changes will raise the compact SUV’s overall value.

Expected price range

  • 12–21 lakh rupees
  • Expected launch: October

RUNNING COST (per month)

  • 4,352-4,835 rupees (petrol)

LOAN EMI (5-year period)

  • 20,397–35,695 rupees

EXPECTED RESALE (after 3 years)

  • 7.8–13.6 lakh rupees


In 2024, THE HYUNDAI ALCAZAR—basically a three-row Creta—will likewise get an update. It might receive minor visual and internal design improvements to align with the updated Creta, which has linked LED lighting elements on the front and back. It might acquire the ADAS and dual-zone climate controls from the new Creta.

The extra space in the back of the Alcazar is useful for storing more luggage while the seats are not in use, even though the third row may not be the best for passenger space. Six-speed MT, seven-speed DCT, and six-speed AT gearbox options will be available for the facelifted Alcazar, which is anticipated to come with the same 160 PS 1.5-liter turbo petrol and 116 PS 1.5-liter diesel engine options as the previous model.

Is the wait worth it? Indeed. Although the Alcazar is currently a well-rounded three-row SUV, the facelift may provide it with helpful changes that would enable it to compete with other SUVs in the same price range that have seven seats.

Expected price range

  • Rs. 17–22 lakh
  • Expected launch: April

RUNNING COST (per month)

  • Diesel: Rs. 4,032 and petrol: Rs. 5,444.

LOAN EMI (5-year period)

  • 28,896-37,395 rupees


  • Fuel type: diesel and petroleum
  • Engine capacity: 1.5 litre (turbo petrol); 1.5 litre (diesel)
  • Claimed mileage: 16 km/l (petrol); 20 km/l (diesel)


ALMOST ALL THE FOURTH-GEN Hyundai Tucson debuted in India in 2022, and in late 2023, the worldwide model had a mid-life update. Subtle exterior appearance updates for the Tucson include a larger and sleeker grille, sharper lighting components, and a redesigned alloy wheel design. The linked screen arrangement, updated steering wheel, renovated dashboard, and updated climate control panel are among the interior’s main modifications.

Expect that it will still include six airbags, ADAS, dualzone air conditioning, and a panoramic sunroof. The high-end SUV is anticipated to carry over the 2-liter gasoline (156 PS/192 Nm) and 2-liter diesel (186 PS/416 Nm) engine options from the present model when it arrives in India. Even an all-wheel drive system is included with the latter. Six- and eight-speed automatic transmissions are available.

Is the wait worth it? Indeed. Even though there haven’t been many design changes, the mid-sized SUV’s redesigned inside is definitely something to look forward to.

Expected price range

  • Rs.29.5-36 lakh
  • Expected launch: June

RUNNING COST (per month)

  • Diesel: Rs. 5,376; petrol: Rs. 7,253

LOAN EMI (5-year period)

  • 50,143–61,191 rupees

EXPECTED RESALE (after 3 years)

  • 19.2-23.4 lakh rupees


  • Fuel type: diesel and petroleum
  • Engine capacity: 2 litre (petrol); 2 litre (diesel)
  • Claimed mileage: 12 km/l (petrol); 15 km/l (diesel)


Share This Post