Jose Munoz, president of Hyundai Motor, said on the 3rd, "As of now, there are no plans to raise prices (for automobiles) in the U.S. market."
On this day, Munoz stated during a meeting with reporters at the '2025 Seoul Mobility Show' held in Goyang, Gyeonggi Province, “A tariff announcement was made in the U.S., but since there were explanations before, it is not surprising.”
Recently, as President Donald Trump hinted at imposing tariffs on imported vehicles, there have been speculations that Hyundai Motor could raise product prices locally. Randy Parker, CEO of Hyundai Motor's U.S. sales subsidiary, had notified local dealers of the possibility of a price increase through a letter.
Munoz noted, "(Hyundai Motor) recognizes that the U.S. market is very important and has a strong commitment," adding, "If we consider both short-term and long-term perspectives, we will continue to maintain competitiveness. We plan to continuously provide competitively priced products with good design, technology, services, and financial programs."
Regarding the launch of hydrogen electric vehicles, Munoz said, "(Hyundai Motor) does not just look at the short-term situation," and stated, "Hydrogen-related technology is very important for future generations in terms of sustainability and environmental aspects." He commented, "New technologies cannot always be pursued alone, so we are discussing collaborations with various partners, and while there are progress updates, I cannot talk about them at this time."
Concerning the entry of Chinese corporations like BYD into Korea, he said, "The emergence of new competitors in the market provides an opportunity for the company to perform better and become stronger," adding, "It is important for Hyundai Motor to continue entering the market based on technology, design, and competitiveness."