Hyundai shares were down 1.5per cent in early Thursday trade, while sister company Kia Corp shares fell 1.9per cent versus a 1.4per cent drop in the wider market.Jose Munozco-CEO of Hyundai Motorsaid 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 25per cent tariffs on imported vehicles and parts announced by President Donald Trump.
Hyundai shares were down 1.5per cent in early Thursday trade, while sister company Kia Corp shares fell 1.9per cent versus a 1.4per cent drop in the wider market.
Hyundai unveiled its fully revamped hydrogen-powered Nexo crossovers at the show.
