Hyundai Motor President José Muñoz has drawn a line, stating that the company has no plans to raise car prices in the U.S. in response to President Donald Trump’s 25% tariff on imported vehicles. Muñoz made this statement during a media day event at the 2025 Seoul Mobility Show in South Korea. He told reporters that they have seen the tariff announcement and are currently evaluating its impact.
Muñoz emphasized Hyundai’s long-standing history of creating customer value and asserted that the company will maintain its competitiveness. He added that this is what their customers expect from Hyundai.
Randy Parker, CEO of Hyundai’s U.S. sales subsidiary, had previously hinted about potential price increases due to the tariffs. However, Muñoz has now dismissed these suggestions.
Starting Thursday, a blanket 25% tariff will be applied to all vehicles imported into the U.S., but the additional mutual tariffs announced simultaneously will not be used. Industry analysts predict that Hyundai and Kia will inevitably feel the impact of these tariffs, as a significant portion of their U.S. sales comes from vehicles produced in South Korea and Mexico.
During the announcement, Muñoz also stressed the importance of swiftly adapting to market changes and innovating in an increasingly competitive landscape. He quoted Chairman Chung Eui Sun, saying, “Adapting to challenges is part of our DNA.”
