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Hyundai warns US dealers of possible price hikes amid 25% tariffs


Published on 2025-04-04 01:42:17 - Reuters
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  • 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.

Hyundai has alerted its U.S. dealers about potential price increases on vehicles imported from South Korea, due to the possibility of the U.S. imposing a 25% tariff on such imports. This warning comes in response to a U.S. Commerce Department investigation into whether Chinese manufacturers are circumventing existing tariffs by assembling vehicles in countries like South Korea and Mexico. If the tariffs are applied, Hyundai, which imports about 20% of its U.S. sales from South Korea, might have to raise prices to offset the increased costs. The company is currently assessing the situation and has not yet made a final decision on price adjustments.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/news/hyundai-warns-us-dealers-of-possible-price-hikes-amid-25-tariffs/ar-AA1C1DBl ]