Hyundai is denying rumors that it plans to boost automobile costs, beginning immediately, June 2. The value hikes have been anticipated to enter impact within the US to assist offset the blow from Trump’s auto tariffs. Right here’s what to anticipate now.
Is Hyundai elevating automobile costs within the US?
Final week, a Bloomberg report claimed Hyundai was contemplating elevating automobile costs throughout the board. The report cited sources conversant in the matter mentioned the worth hikes have been anticipated as quickly as June 2.
Hyundai denied the rumors (through The Korea Herald), saying, “Now we have not made any resolution relating to value adjustments after the present value assure interval ends.”
On April 4, Hyundai launched its “Buyer Assurance” program in response to Trump’s auto tariffs and unsure market circumstances. This system locks in automobile costs (MSRP) for individuals who buy or lease a automobile, together with these below its luxurious Genesis model, through the safety window.
Nonetheless, the window ends immediately, June 2. Hyundai acknowledged that June is when it sometimes opinions costs, and this isn’t particularly associated to the latest US auto tariffs.
The value hikes have been anticipated to be round 1% on each automobile throughout its lineup, together with electrical autos (EVs). The sources additionally mentioned Hyundai was contemplating elevating costs on non-compulsory options, reminiscent of added roof rails.
Like a lot of the trade, Hyundai is dealing with larger import prices for the reason that 25% tariff went into impact on April 3. Stellantis, Ford, Honda, and others have already introduced plans to boost automobile costs within the US as a result of tariffs.
Hyundai lately opened its huge new EV manufacturing plant in Georgia, the place the brand new IONIQ 9 and the 2025 IONIQ 5 are produced. Nonetheless, a lot of its autos are nonetheless imported from Korea.
Over 637,600 autos have been exported from Hyundai’s crops in Korea to the US final 12 months, or practically 70% of its gross sales.
We should always study extra quickly as Hyundai finalizes its pricing overview. We’ll preserve you up to date with the most recent. For now, Hyundai’s EVs are nonetheless surprisingly reasonably priced.
