Hyundai Faces Challenges with U.S. Tariff Hikes

Hyundai warns U.S. dealers about potential price increases due to new 25% tariffs announced by President Trump on imported vehicles and parts. CEO Randy Parker cautioned that current pricing isn't guaranteed and could change. The company remains less impacted by reliance on Mexico and Canada.

Hyundai has issued a stark warning to its U.S. dealers amid a looming 25% tariff on imported vehicles and parts, as announced by President Donald Trump. This move could lead to potential price hikes, forcing the automaker to reassess its pricing strategies.

Randy Parker, CEO of Hyundai and Genesis Motor North America, highlighted the uncertainty surrounding current pricing. He warned dealers that price adjustments could be imminent for units wholesaled after April 2.

Despite the challenges, Hyundai remains at an advantage compared to some rivals due to its lower dependence on imports from Mexico and Canada, maintaining strong investments within the U.S.

(With inputs from agencies.)