Hyundai And Genesis Won’t Raise Prices Until June, Then All Bets Are Off
Ford and Stellantis counter tariffs with discounts while Hyundai focuses on price stability
https://www.carscoops.com/author/mikecarscoops-com/
by Michael Gauthier
Hyundai and Genesis have pledged not to raise prices until June 2.
The move is designed to give customers peace of mind and time to shop.
After the program expires, prices could skyrocket due to tariffs.
President Trump’s wide-ranging tariffs mean everything is about to get more expensive. Automobiles top that list thanks to a 25% tariff that is expected to drive prices up by thousands of dollars.
This has sent the automotive industry into chaos, but companies are now starting to form a response. While Ford and Stellantis are embracing employee pricing, Hyundai and Genesis are rolling out price assurance plans.
More: Trump “Couldn’t Care Less” If Automakers Raise Prices Over Tariffs
Hyundai’s is known as Customer Assurance, and it’s a “response to dynamic market conditions and the potential impact of tariffs on the automotive industry.” As part of the program, the company is promising not to increase prices between now and June 2.
The Korean brand said the move will give customers peace of mind, financial reassurance, and “time to make the right choice for their transportation needs.” The latter is notable as consumers flocked to dealerships to purchase vehicles last month.
Hyundai Motor North America CEO Randy Parker said, “Our commitment to maintaining the MSRP is another example of the focus we place on the consumer. We understand the challenges consumers face in today’s economic climate, and we want to continue the momentum from record sales in March and the first quarter.”
Hyundai went on to note their manufacturing presence in America and say they have the flexibility to “respond quickly and strategically” to changing conditions. They said this enables them to give customers the “right products at the right time and at the right price.”
For luxury shoppers, there’s Genesis Cares. It’s essentially the same thing with a different name as the brand promised to maintain MSRPs for their entire lineup for the next two months.
Genesis CEO José Muñoz said, “We know consumers are uncertain about the potential for rising prices and we want to provide them with some stability in the coming months. Our MSRP commitment is just one part of our multifaceted effort to provide great vehicles to American consumers, while also supporting hundreds of thousands of jobs and investing billions of dollars in the most important market for our company.”
Kia hasn’t announced their intentions yet, but it wouldn’t be surprising if they offer a similar program soon.
