Hyundai Freezes Prices

Hyundai’s Steady Pricing Move

Recently, Hyundai and its luxury division, Genesis, announced a price freeze on their vehicle lineup for two months. This decision comes as a response to concerns over a new 25% tariff on all foreign auto imports. The move aims to reassure U.S. buyers that there’s no immediate impact on showroom prices from this policy.

Under the banners ‘Customer Assurance’ and ‘Genesis Cares,’ both companies are determined to keep the manufacturer’s suggested retail prices unchanged despite fluctuating market conditions. This assurance provides potential car buyers some financial peace of mind, stabilizing costs while they decide what suits their transportation needs best.

The CEO of both brands, José Muñoz, emphasized that this price stability is just one element of their approach to addressing consumer anxiety. By doing so, not only do they aim to sell great cars, but they also plan on supporting a multitude of jobs and continuing their substantial investments throughout the American market.

Potential Price Changes

Reuters highlighted a note from Randy Parker, CEO of Hyundai and Genesis Motor North America, to dealerships. It cautioned that after April 2, vehicle pricing could see changes when tariffs kick in. Despite not heavily relying on imports from Mexico and Canada, Hyundai’s U.S. investments could still see localized pricing adjustments, indicating potential bumps for consumers post-tariff effects.

Competitive Market Moves

Hyundai isn’t alone in seeking to ease American buyers’ concerns. Ford’s newly rolled out campaign, ‘From America, For America,’ features discounts ranging from $2,000 to $10,000 for select 2024 and 2025 models, valid until June 2. An example from this program gives $10,000 off an F-150 XLT Hybrid and a $2,700 reduction on the Escape ST.

Stellantis has also joined in, promoting employee pricing on most 2024 and 2025 makes till April 30, except high-end models like the Ram 1500 RHO. Their campaign encourages customers to choose between employee prices or current cash incentives, offering “America’s Freedom of Choice.”

Conclusion

In times of economic stress caused by tariffs, automotive manufacturers are stepping up to ease consumer uncertainty. These pricing programs may serve as temporary relief, but the broader issue of tariffs remains. It’s uncertain how long these measures will suffice, and whether there’s enough public pressure to push for policy changes in the future.