• Hyundai is reportedly preparing to raise the prices of all its vehicles in the U.S.
While the tariff situation may differ between Canada and the United States, it's important to keep an eye on what's happening with our neighbors to the south, as that could have implications here.
After Subaru announced price increases for practically all models it sells in the U.S., it appears Hyundai is preparing to do the same, plainly with the goal of mitigating the impact of tariffs imposed by the U.S. administration.
Sources close to the matter told Automotive News that Hyundai plans to increase the retail price of all its vehicles by 1 percent, as early as next week.
The measure would apply to models arriving at dealerships, not those already on dealership lots.
The company is also reportedly exploring the possibility of increasing transportation and preparation fees, as well as the price of certain options, in order to avoid a significant rise in the vehicles' advertised base price. Discussions are still ongoing within the company, so nothing is set in stone.
And it's important to reiterate, none of this currently affects Canada.
Hyundai has stated that its pricing strategy is designed to ensure it remains competitive, but that no final decision has been made. Like most other manufacturers, it avoids citing tariffs as a justification for price adjustments, preferring to refer to "market dynamics and consumer demand." It also stated, via a press release, that it would continue to adapt to "evolving supply and demand and regulations, through a flexible pricing strategy and targeted incentive programs."
The increase in prices and fees will add at least several hundred dollars to each vehicle offered by the brand.
Hyundai builds vehicles in the U.S., which will help soften the blow. Nevertheless, the company imported 1.1 million vehicles into the country last year.