Hyundai warns US dealers of possible price hikes amid 25% tariffs
DETROIT (Reuters) - Hyundai warns US dealers of possible price hikes amid 25% tariffs
South Korean automaker Hyundai warned U.S. dealers it is evaluating its pricing strategy in the face of forthcoming 25% tariffs on imported vehicles and parts announced by President Donald Trump.
Randy Parker, chief executive officer of Hyundai and Genesis Motor North America, told dealers in a note that "current vehicle pricing is not guaranteed and may be subject to change for units wholesaled after April 2."
Analysts expect automakers may be forced to significantly hike vehicle prices if the new tariffs remain in place for an extended period.
"Tariffs are not easy," Parker told dealers.
Parker also said the automaker is "fortunate that we do not depend heavily on imports from Mexico and Canada. We have been sure footed in our U.S. investments."
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