Stellantis and Hyundai join Ford in making tariff-led price adjustments
Stellantis joined its Detroit rival Ford in offering employee pricing for most of its models.
Jeep and Chrysler maker Stellantis is joining its Detroit rival Ford in offering employee pricing on most of its new vehicles, according to reporting by Bloomberg.
At the same time, Hyundai said it’ll freeze its prices until June 2.
The moves weren’t enough to turn shares of either automaker green during Friday’s broad sell-off, but they were part of a growing effort by automakers to move inventory before potential tariff price hikes kick in. Ford’s discount will last through the beginning of June. Stellantis’ deal is said to run through the end of April.
Notably, the automakers hoping to incentivize sales with lower or frozen pricing all have high inventory levels. According to Cox Automotive data, Stellantis’ Dodge had the industry’s third-highest inventory levels in February, Ford had the fourth, Hyundai had the sixth, and Stellantis’ Jeep brand had the seventh.
On the other end of the spectrum, this week Volkswagen told its dealerships that it will slap an “import fee” onto cars affected by tariffs.
Automakers have reportedly warned lawmakers that their cars will see drastic price hikes as existing inventories are drained. Trump administration tariffs are expected to add about 11% to US car prices, on average — and more than $12,000 to the final cost for some models.
