As new tariffs go into effect, costs for automakers will start going up almost immediately. How long will it take for prices to follow?
Carmakers have entire departments that determine pricing and tariffs will be one more factor they look into. They also have to see what consumers are willing to accept and it may vary by vehicle. And they watch competitors.
Hyundai North America President Randy Parker says these changes won’t come overnight.
“In terms of prices, we haven’t made any firm decisions yet,” Parker said. “We continue to evaluate all of the scenarios. But what I would say to our customers is that just like all things in life, is tomorrow is never guaranteed.”
Hyundai dealers say they’ve been told the company is reevaluating its pricing strategy.
