In response to the U.S. Trump administration’s decision to impose a 25% tariff on imported vehicles, Hyundai Motor Company has announced a price freeze on its cars in the U.S. market. Last week, Hyundai Motor America unveiled its Customer Assurance (CA) program, which will maintain the Manufacturer’s Suggested Retail Price (MSRP) for vehicle purchases or leases until June 2025.
José Muñoz, President and CEO of Hyundai Motor, stated that this initiative is designed to ease consumers’ worries about potential price hikes and create a stable purchasing environment. He further emphasized that their action underscores Hyundai’s dedication to providing top-quality vehicles to American consumers while safeguarding hundreds of thousands of jobs and maintaining our investment in this crucial market.
Hyundai Motor Group has recently expanded its U.S. manufacturing footprint with the completion of the Meta Plant America Factory in Georgia. This new facility, capable of producing 300,000 units annually, will boost Hyundai and Kia’s combined annual production capacity in the U.S. to 1 million vehicles.
While Hyundai Motor Group sold approximately 1.7 million vehicles in the U.S. in 2024, it continues to rely heavily on exports from its South Korean and Mexican production facilities. In 2023, the company exported around 1.145 million units from South Korea, generating $38 billion in export revenue.
Looking ahead, Hyundai Motor Group plans to invest $21 billion in the U.S. by the end of 2025. This substantial investment will focus on expanding production capacity, advancing future technologies, and enhancing energy infrastructure. During this period, the Meta Plant is expected to reach an annual production capacity of 500,000 units.
