Jose Munoz, co-CEO of Hyundai Motor, said on Thursday there were no plans to raise prices in the United States at this time in response to U.S. tariffs.
“We have seen the tariff announcement and we are evaluating the impact,” Munoz said at an auto show in South Korea. “There are no plans to raise prices in the United States at this time.”
Hyundai had previously warned U.S. dealers it was evaluating its pricing strategy in the face of forthcoming 25% tariffs on imported vehicles and parts announced by President Donald Trump.
Hyundai shares were down 1.5% in early Thursday trade, while sister company Kia Corp shares fell 1.9% versus a 1.4% drop in the wider market.
Hyundai unveiled its fully revamped hydrogen-powered Nexo crossovers at the show.
