Hyundai Motor Reviews Mid- to Long-Term Business Strategy... Munoz "Executives Gathered in New York for Meeting"

"Checking the Situation Every Second, Every Moment
and Responding Swiftly"

Hyundai Motor Company is set to review its mid- to long-term strategy in response to changes in the global landscape, including the tariff policies of the Trump administration in the United States.

On the 16th (local time), Jose Munoz, President of Hyundai Motor, met with domestic reporters at the Jacob Javits Convention Center in New York, where the 2025 New York International Auto Show is being held, and said, "We are having a very important meeting at Hyundai today and tomorrow. Key executives have gathered in New York to review the mid- to long-term strategy and assess our current position."

Last August, Hyundai Motor announced targets such as an annual sales volume of 5.5 million units by 2030 and a total shareholder return ratio of 35% through the CEO Investor Day. This meeting is interpreted as a measure to reexamine the mid- to long-term business strategy in light of recent changes in the global business environment, including tariffs.

President Munoz emphasized, "We will take swift action to minimize costs and maximize sales by checking the situation not monthly or weekly, but every second and every moment. We must leverage Hyundai's DNA, which demonstrated flexibility during the COVID-19 period, to turn difficulties into opportunities and make a leap forward."

Jose Munoz, CEO of Hyundai Motor Company, is speaking at the '2025 New York International Auto Show' event. Photo by Hyundai Motor Company

Regarding concerns about price increases in the U.S. due to tariff imposition, President Munoz reiterated, "We will not raise consumer prices for vehicles sold in the U.S. until June." He added, "Prices are adjusted by the market, and it is important for companies to optimize costs and supply to provide consumers with the best products at reasonable prices."

He continued, "It is important to continue Hyundai's own efforts in operational and cash management. Regardless of what happens, we will maintain the business plan promised for this year."

He also introduced the newly unveiled Palisade, revealed for the first time in the North American market that day, as a good example of quickly responding to market demand. President Munoz said, "At the U.S. new plant (HMGMA), we currently plan to produce the Ioniq 5 and 9, and the next model has not yet been announced. It could be the Palisade, but nothing has been decided."