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Hyundai Motor has announced that it will freeze the prices of all new vehicles sold in the United States until early June, aiming to ease consumer concerns about rising costs following the US government’s imposition of a 25% tariff on imported vehicles.
Hyundai Motor America (HMA) confirmed that any new Hyundai vehicle purchased until June 2 will be protected from Manufacturer’s Suggested Retail Price (MSRP) increases, regardless of changes in market conditions.
This initiative is part of the company’s Customer Assurance program.
Impact Of US Tariffs On Imported Vehicles
The US tariffs, which took effect this week, are part of an aggressive effort by the Trump administration to reduce America’s trade deficits and bolster domestic manufacturing.
As the tariffs affect imported cars, including those from South Korea, Hyundai’s price freeze aims to provide American consumers with price stability amid uncertainty.
“We know consumers are uncertain about the potential for rising prices, and we want to provide them with some stability in the coming months,” said Jose Munoz, President and CEO of Hyundai Motor.
Also Read: India’s Exports To The US Face Limited Impact From Tariff Hike: SBI Report
“Our MSRP commitment is just one part of our multifaceted effort to provide great vehicles to American consumers,” he further added.
Strategic Response To Rising Tariffs And Market Conditions
Randy Parker, CEO of Hyundai Motor North America, highlighted that the price protection measure builds on the company’s strong sales momentum from March and the first quarter.
He also emphasized that the move reflects Hyundai’s long-standing support for American consumers and its ongoing investment in the US market.
The MSRP freeze is a key element of Hyundai’s broader US strategy, which includes a $21 billion investment plan from 2025 to 2028.
This initiative is aimed at expanding the company’s manufacturing and technology operations in the US and creating more than 100,000 jobs.
Continued Commitment Despite Tariffs
Hyundai has made it clear that it does not plan to raise vehicle prices in the US in the immediate future, despite the imposition of the 25% tariffs.
This move underscores Hyundai’s commitment to maintaining stable prices and supporting its American customers in a time of economic uncertainty.
Hyundai’s Role In US Auto Market
The US remains a critical export market for South Korean automakers, with Hyundai Motor Group and GM Korea together exporting nearly 1.38 million vehicles to the US in 2024.
Hyundai’s shipments alone amounted to $34.7 billion, representing 49.1% of South Korea’s overall car exports for the year.
In response to the ongoing tariff pressures, Hyundai Motor Group also announced plans last week to invest $21 billion in the US through 2028, further solidifying its commitment to the American market and its future growth.
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