Hyundai is denying rumors that it plans to lift automobile costs, beginning as we speak, June 2. The worth hikes had 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 aware of the matter stated the worth hikes had been anticipated as quickly as June 2.
Hyundai denied the rumors (through The Korea Herald), saying, “We have now not made any determination concerning worth adjustments after the present worth 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 beneath its luxurious Genesis model, throughout the safety window.
Nonetheless, the window ends as we speak, June 2. Hyundai acknowledged that June is when it sometimes critiques costs, and this isn’t particularly associated to the current US auto tariffs.
The worth hikes had been anticipated to be round 1% on each automobile throughout its lineup, together with electrical autos (EVs). The sources additionally stated Hyundai was contemplating elevating costs on non-compulsory options, corresponding to added roof rails.
Like a lot of the trade, Hyundai is going through greater import prices for the reason that 25% tariff went into impact on April 3. Stellantis, Ford, Honda, and others have already introduced plans to lift automobile costs within the US as a result of tariffs.
Hyundai not too long ago opened its large new EV manufacturing plant in Georgia, the place the brand new IONIQ 9 and the 2025 IONIQ 5 are produced. Nonetheless, lots of its autos are nonetheless imported from Korea.
Over 637,600 autos had been exported from Hyundai’s vegetation in Korea to the US final 12 months, or almost 70% of its gross sales.
We must always study extra quickly as Hyundai finalizes its pricing overview. We’ll hold you up to date with the most recent. For now, Hyundai’s EVs are nonetheless surprisingly inexpensive.
