In the wake of President Trump’s sweeping tariffs on vehicle imports and parts, car buyers braced for price hikes. But on Friday, Toyota, Honda, and Hyundai announced they’re keeping prices steady—at least for now.
Hyundai confirmed it will maintain prices across its lineup through June 2, backed by a new Customer Assurance Program. “We want to provide stability,” said Hyundai CEO José Muñoz, acknowledging customer anxiety over rising costs.
Meanwhile, Toyota and Honda are holding off on changes, though both brands remain cautious. Toyota stated that its operations would “run as they are,” while Honda opted for a “wait and watch” approach.
Big Players Lean into Discounts
While the Japanese and Korean giants hold the line, Ford and Stellantis are taking a different route—offering employee pricing to all customers.
Ford’s “From America For America” promotion includes discounts on U.S.-built and Mexican-made models like the Mustang Mach-E and Maverick. Special edition Mustangs and high-performance trucks, however, are excluded.
Stellantis followed suit, rolling out similar deals just a day after announcing layoffs of 900 workers and production pauses in Canada and Mexico.
Why This Matters
No car on sale today is 100% American-made. Even U.S.-assembled models rely on parts sourced globally. The new tariffs threaten supply chains and could cost Japan’s top six automakers up to $24 billion, with Toyota shouldering about $12 billion of that hit.
For now, brands are scrambling to buy time, negotiate with the government, and rethink production strategies. While localized parts manufacturing is the long-term goal, it’s a multi-year, multi-billion-dollar challenge.
