DETROIT, March 31 (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."