Latest news with #SeoulMobilityShow2025
Korea Herald
3 days ago
- Automotive
- Korea Herald
Hyundai Motor denies tariff-driven US price hike rumors
Hyundai Motor Company has pushed back against speculation that it plans to raise vehicle prices in the US in response to the Trump administration's recently imposed 25 percent tariff on imported cars. The denial follows a Bloomberg report on Thursday that said Hyundai is ready to increase retail prices in the US by around 1 percent as early as next week to offset the impact of the tariff. Citing an anonymous source, the report also mentioned a potential rise in shipping costs and the prices of certain optional features. 'We have not made any decision regarding price changes after the current price guarantee period ends on June 2,' a Hyundai Motor official said on Friday, clarifying that this is the company's official stance. The official explained that June is the period when the company conducts its regular price review to adjust for market changes, but this review is not related to the recently imposed tariff. The 25 percent tariff, which took effect April 3, has raised concerns within the industry. Hyundai, however, has consistently denied any direct link between the levy and retail pricing decisions. The company has pledged to maintain its current vehicle prices, including those for its luxury brand, Genesis, through June 2 despite the tariff. Hyundai Motor's CEO Jose Munoz, also stated during his speech at the Seoul Mobility Show 2025 on April 3 -- the same day the tariffs were imposed -- that there were no plans to raise prices in the US. In a separate speech in New York, however, he was reported to have hinted at possible price adjustments depending on future market conditions after June. Hyundai has come under growing pressure to review its US pricing strategy since the tariff was introduced. The company is expanding its local production capacity with the recent opening of Hyundai Motor Group Metaplant America in Georgia, which adds up to 300,000 units in annual capacity. However, a significant portion of its US vehicle supply is still imported from Korea. Hyundai Motor Company's Korean plants exported 637,638 units to the US last year, accounting for approximately 69.9 percent of its total US sales.
![[Photo News] Behind electric wheel](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F04%2F10%2Fnews-p.v1.20250410.3ae8b00e12ba41a8b5ea7acb1f8de1a7_T1.png&w=3840&q=100)
Korea Herald
10-04-2025
- Automotive
- Korea Herald
[Photo News] Behind electric wheel
Seoul Mobility Show 2025 organizers said Thursday that Hyundai Motor and BYD's test-driving experiences have been bustling with visitors. Since Korea's biggest biannual auto exhibition began a week ago at Kintex in Goyang, Gyeonggi Province, the Korean and Chinese automakers have offered chances to get behind the wheel of the former's all-electric three-row sport utility vehicle, Ioniq 9, and the latter's electric compact SUV, Atto 3. Visitors can sign up for a 15-minute test drive of each model through an on-site registration at the event venue. The Seoul Mobility Show 2025 will last through Sunday. (Seoul Mobility Show organizers)
Al Bawaba
07-04-2025
- Automotive
- Al Bawaba
Hyundai Motor Unveils the new IONIQ 6 and IONIQ 6 N Line Under ‘Pure Flow, Refined' Concept
Hyundai Motor Company unveiled its newly designed IONIQ 6 and IONIQ 6 N Line today at the Seoul Mobility Show 2025 in Korea, setting a new standard for electrified streamliners. Building on the design spirit of the original, multi-award-winning IONIQ 6 launched in 2022, the facelifted model features more refined curves and enhanced proportions for a sleek and beautifully balanced silhouette. 'IONIQ 6 has evolved from a single Electrified Streamliner into a lineup, each model expressing its own character while staying true to one refined vision,' said Simon Loasby, Senior Vice President and Head of Hyundai Design Center. 'Under the evolved design concept of 'Pure Flow, Refined', we've enhanced every line and detail to make IONIQ 6 simpler and more progressive.' 'Pure Flow, Refined' design concept With the new IONIQ 6, Hyundai Motor is emphasizing the identity of electrified streamliners, focusing on connecting the body flow more precisely and naturally based on the evolved concept of 'Pure flow, Refined'. The new vehicle's elevated hood and extended shape, combined with a shark-nose design, create a sleek profile that appears to slice through the air. The black garnish on the lower body extends to the doors, emphasizing the IONIQ 6's streamlined body. The previous-generation vehicle's prominent spoiler has been removed, with the new IONIQ 6 featuring an extended ducktail spoiler to maintain aerodynamic performance while achieving a smoother, more refined silhouette. The car's front and rear design details have been refined for a modern and high-tech appearance, featuring separate slim DRLs and main lamps. Horizontal design elements create a wider stance, while the rear bumper design complements the front with modern chrome garnish. The design of the new IONIQ 6's interior maintains the 'Mindful Cocoon' concept, with a greater focus on a more comfortable and intuitive user experience. Inside, the new IONIQ 6 features a redesigned steering wheel and enhanced door trim materials for a more premium feel. The center console layout has been refined for improved functionality, and the climate control display has been enlarged to enhance ease of use. N Line model brings bold and aggressive styling Unveiled alongside the new IONIQ 6, the IONIQ 6 N Line variant inherits the design DNA of the RN22e Rolling Lab released in 2022, adding a distinctly bold touch. To highlight the N Line model's dynamic and aggressive design, the front and rear wing-shaped bumpers feature enhanced details and a more sculptural form. This wing-inspired bumper design, along with a side sill emphasized by a single line, gives the electrified streamliner a visually lower stance. Additionally, the extensive use of black color at the rear, drawn from the RN22e's design, contributes to the IONIQ 6 N Line's sporty proportions. The two-dimensional Parametric Pixel lamp design further emphasizes a digital aesthetic. IONIQ 6 N to be unveiled in July this year Hyundai Motor also teased the forthcoming IONIQ 6 N during its Seoul Mobility Show presentation, hinting at the arrival of a true high-performance electrified streamliner in the future. *Specifications mentioned above are based on the Korean-market model. Features, technology and claimed figures may differ depending on the market.
Korea Herald
06-04-2025
- Automotive
- Korea Herald
Hyundai says no price hike through early June in US
Korean automaker decides temporarily to freeze US retail prices despite potential impact of Trump's tariffs Hyundai Motor has decided temporarily to freeze the prices of its vehicles sold in the United States amid the Trump administration's 25 percent tariffs on all imported automobiles to reinforce the company's "long-standing commitment to supporting American consumers and safeguarding affordability," it said in a press release Friday. According to Hyundai Motor America's announcement on Friday, the automaker launched a customer assurance program to promise no price hikes in the manufacturer's suggested retail price for customers who purchase or lease new Hyundai and its premium brand Genesis vehicles until June 2. The price guarantee policy came shortly after Hyundai Motor Company CEO Jose Munoz told reporters that the automaker plans no price hike for the time being at the Seoul Mobility Show 2025 at Kintex in Goyang, Gyeonggi Province, on Thursday. 'At Hyundai, we have a long history of providing value and doing what's right for our customers and communities,' said Munoz. 'We know consumers are uncertain about the potential for rising prices and we want to provide them with some stability in the coming months. Our (manufacturer's suggested retail price) commitment is just one part of our multifaceted effort to provide great vehicles to American consumers, while also supporting hundreds of thousands of jobs and investing billions of dollars in the most important market for our company.' Hyundai's decision to freeze prices for about two months appears to be an effort to continue riding on its upbeat US sales. Hyundai sold record-setting 203,554 vehicles in the first quarter of this year, a 10 percent increase on year, based on its best-selling March sales of 87,019 units. Genesis also logged a record first quarter output with 17,505 cars sold, a 19 percent increase in comparison to the same quarter last year. 'We understand the challenges consumers face in today's economic climate, and we want to continue the momentum from record sales in March and the first quarter,' said Randy Parker, CEO of Hyundai Motor North America. Meanwhile, Song Ho-Sung, CEO of Hyundai Motor's sister affiliate Kia, indicated a similar stance by saying that Korea's second-largest automaker has no plans to raise the prices of Kia vehicles sold in the US at the moment on the sidelines of the Seoul Mobility Show 2025.
Korea Herald
03-04-2025
- Automotive
- Korea Herald
HD Hyundai debuts next-gen excavators
Korean construction equipment manufacturer sets eyes on W70tr globally accumulated revenue by 2030 HD Hyundai unveiled its next-generation excavators for the first time Thursday at the Seoul Mobility Show 2025 at Kintex in Goyang, Gyeonggi Province, as the Korean construction equipment maker looks to expand its presence in the global market. The premiered models were the HX400, HD Hyundai Construction Equipment's 40-metric-ton class excavator and the DX240, HD Hyundai Infracore's 24-ton class excavator. As the first construction equipment company to take part in Korea's biggest biannual auto exhibition, HD Hyundai put on the massive excavators on display at its pavilion under the slogan 'No Infrastructure, No Mobility.' 'As mobility gives the freedom of movement to humanity, construction equipment gives unlimited possibilities for the advancement of mobility,' said Cho Young-cheul, CEO of HD Hyundai XiteSolution, an intermediate holdings company of HD Hyundai's construction equipment arms, during the press conference. 'With the newly released models, HD Hyundai's construction equipment division plans to achieve accumulated overseas sales of 450,000 units and 70 trillion won ($47.7 billion) by 2030 from this year.' HD Hyundai highlighted that the new excavators are equipped with the company's latest technologies, such as full electro-hydraulic systems and smart assist, safety and monitoring features to improve the accuracy and efficiency of workloads. For instance, the excavators offer guidance for depth and inclination in real time and aid the subtle control of the machine. According to HD Hyundai, the HX400 will be released in the Korean and European markets in May and June this year, respectively, and launched in North America in April 2026. The DX240 will hit the Korean and European markets in May and July this year, respectively, with a plan to also debut in North America in April 2026. The Korean construction equipment manufacturer added that it aims to roll out the new models of excavators in the 25-tonne, 30-ton and 35-ton classes within this year. HD Hyundai is capable of producing about 94,300 units of construction equipment per year. 'Spearheaded by the next-generation new models, we will grow our construction equipment brands 'Hyundai' and 'Develon' into global top-makers,' said Cho.
