Despite the reciprocal tariffs imposed by the Trump administration, Hyundai Motor Company announced on the 4th (local time) that it plans to maintain consumer prices for all vehicle models in the U.S. market for the next two months.
On this day, Hyundai Motor America stated in a press release, "From today until June 2, 2025, for two months, we will not raise the suggested retail prices of the current model lineup." It added, "In response to the dynamic market conditions and the potential impact of tariffs on the automotive industry, we have launched a customer reassurance program," and "This unique initiative strengthens Hyundai's long-standing efforts to support U.S. consumers and protect their purchasing power."
Jose Munoz, President of Hyundai Motor Company, said, "We understand that consumers feel uncertainty about the possibility of price increases, and we want to provide them with stability," adding, "The commitment to maintain suggested retail prices is part of a multifaceted effort to offer excellent vehicles to U.S. consumers."
Randy Parker, CEO of Hyundai Motor North America, also stated, "We aim to continue the record-breaking sales performance of March and the first quarter," and "This initiative is based on Hyundai's tradition of supporting U.S. consumers and investing in the U.S. market."
The company emphasized, "Hyundai, which has a proven track record of successfully overcoming various industry challenges ranging from the global semiconductor chip shortage to disruptions caused by COVID-19, is in a leading position to navigate today's changing environment."
The Donald Trump administration began imposing a '25%' tariff on imported automobiles starting the day before.
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