Automaker INEOS adjusts pricing as a result of tariffs
DETROIT, April 4 (Reuters) - London-based INEOS Automotive is increasing prices on its premium vehicles as a result of the new 25% tariff on auto imports, the company said Friday.
While the smaller automaker said it's "doing all it can" to prevent prices on its France-built vehicles from increasing, it will be raising prices at lower percentage rates than the tariff fee.
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The automaker, which launched in the U.S. in 2023, said orders placed before April 3, when President Donald Trump instituted the 25% auto tariff, on its U.S. Grenadier SUV will be price-protected without extra charges at the time of delivery.
Prices for new orders of the SUV will be held to a 5% increase, the company said, with the new starting price set at $78,855.
The INEOS Quartermaster pick-up truck, which is already subject to a 25% tax on imported trucks on top of the 25% import tariff, will see a 10% price increase with its new starting price set at $92,900.
North America is INEOS' largest market, accounting for more than 60% of its global sales. The company does not release sales figures.
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