The sedan will be available in both diesel and petrol options. While the petrol version is priced in a range of Rs 14.13 lakh and Rs 16.45 lakh, the diesel option is priced between Rs 14.58 lakh and Rs 17.94 lakh (all prices ex-showroom Delhi), the company said in a statement.
Commenting on the launch, Hyundai Motor India Ltd (HMIL) Managing Director & CEO B S Seo said: "Designed in line with a vision of creating cutting edge driving innovations and delivering outstanding comfort features, the new Elantra is engineered for excellence to cater to various needs of the customers."
Elantra being a global model, is Hyundai's first car and one of only 10 cars in the history of the auto industry to reach over 10 million sales globally, he added.
The petrol version is powered by a 1.8 litre engine with a certified fuel economy of 16.3 Kmpl, the diesel version has a 1.6 litre engine that gives a mileage of 22.7 Kmpl, the company said.
With the launch of new Elantra, Hyundai now has a complete new  portfolio of the new generation premium products, it added.
HMIL stated that it is targeting 5 lakh sales milestone in the domestic market in the near future, for which it plans to launch a slew of products, including entry into new segments.
In the past two months, the company launched a new version of its mid-sized sedan Verna and a crossover i20 Active.