According to foreign media reports, although there is news that South Korean automaker Hyundai Motor may be about to raise prices in the United States, the company has not yet made any adjustments to prices due to tariff issues. Hyundai Motor North America CEO Randy Parker said in a conference call with the media on July 1 that keeping product prices affordable is key to coping with the “challenging” second half of the year.
2025 Shengda; Image credit: Hyundai Motor Company
Randy Parker emphasized that Hyundai has not yet taken any price increases in the U.S. market, but has already formulated a series of incentive plans that will last until the end of this year as part of a “robust plan” to maintain vehicle competitiveness.
In May, Bloomberg reported that Hyundai was considering raising the suggested retail price of all its models in the United States by 1%. However, in April this year, Hyundai Motor announced that it would keep prices unchanged until at least June 2.
In the first half of this year,In the U.S. market,Hyundai brand sales increased by 10% year-on-year to 439,289 units, a record high; Sales in the second quarter increased by 9.8% year-on-year to 235,726 units; Sales in June reached 69,702 units, a slight increase of 3.1% year-on-year. Randy Parker expects the Hyundai brand to set another sales record in the US market this year. Last yearHyundai brand in the United StatesCar sales836,802 units, a year-on-year increase of 4.4%.
In terms of inventory, Hyundai is also in a solid state. At the end of June this year, Hyundai’s inventory in the United States was 167,889 units, a slight increase from 166,850 units at the end of May this year and a significant increase from 123,284 units at the end of June last year.
To maintain sales momentum, Hyundai Motor started its summer promotion on July 1. Randy Parker said the company will focus on supporting models such as the Hyundai Santa Fe midsize crossover, which offers a hybrid version that is popular with the U.S. market. In the second quarter of this year, the hybrid version of Hyundai Shengda accounted for 40% of the total sales of this model.
It is reported that from July 1 to Labor Day (the first Monday of September), eligible Hyundai Shengda buyers can enjoy zero-interest loan discounts and enjoy a 90-day payment waiver.
The summer promotion will also pave the way for the launch of Hyundai’s second-generation three-row Palisade in the United States, and it is worth noting that this model will be available in a hybrid version for the first time. The recently launched Hyundai Ioniq 9 will also bring incremental sales and continue to solidify Hyundai’s leading position in the electric vehicle segment in the United States.
“New products always resonate well in the U.S. market,” says Randy Parker. He added that the Hyundai Ioniq 9 will be fully operational in the second half of this year, noting that the company’s assembly and production in Georgia, USA, will also help mitigate the overall impact of US tariffs. In addition, Hyundai also plans to launch a winter promotion in the US market by the end of this year.
At the same time, Randy Parker pointed out that having such a comprehensive product line is one of Hyundai’s strengths. “No matter what the market is doing, whether it’s diesel locomotives, hybrids, plug-in hybrids, electric vehicles, or hydrogen vehicles, we can meet the needs of every consumer.”
