Hyundai Received A Major Favor From Trump, Yet It’s GM That’s Grinning | Carscoops

      While the reduction in tariffs is positive for car manufacturers, Hyundai's North American head remarks, "fifteen percent is still 15%."

      6 hours ago

      by Brad Anderson

      This year, Hyundai will import more than 950,000 vehicles into the U.S.

      GM also brings in hundreds of thousands of cars from Korea.

      Cuts to the tariffs by the Trump administration could save automakers billions.

      The tariffs imposed by the Trump administration have significantly impacted automakers' profits. However, for Korean brands, a change in trade policy has provided a significant opportunity. It has been confirmed that tariffs on vehicles imported from South Korea will decrease from 25 percent to 15 percent.

      This news is promising for Hyundai, Kia, and Genesis, but there is another, less obvious beneficiary: General Motors. Although GM prominently displays its American identity, it is also one of the largest importers of vehicles made in Korea into the United States.

      Last year, GM imported 407,226 vehicles from South Korea, including models such as the Chevrolet Trax, Chevrolet Trailblazer, Buick Encore GX, and Buick Envista.

      GlobalData forecasts that this number will increase to 422,000 vehicles this year. With the tariff reduction, GM stands to save a significant amount of money, and the company has expressed its approval of this change.

      “GM’s long-standing operations in Korea produce high-quality, affordable crossovers that enhance our U.S. vehicles and domestic production, which is soon expected to reach 2 million units. We will be closely monitoring and reviewing the details,” GM stated to CNBC.

      Of course, Hyundai is the primary beneficiary. Through its brands Hyundai, Kia, and Genesis, the company is projected to import over 951,000 vehicles to the U.S. this year. Although this is fewer than the approximately 964,000 it imported in 2024, it remains the leading Korean car brand in the U.S. However, Hyundai is not celebrating just yet.

      “Fifteen percent is still 15%,” stated Randy Parker, Hyundai North America CEO. “Reaching 15% is a significant milestone. The journey to this agreement has been extensive, to say the least.”

      By the end of the year, it is estimated that 1.37 million vehicles will have been imported from South Korea to the U.S., positioning the country as the second-largest source of imported cars, just behind Mexico, and representing around 8.6 percent of all U.S. sales.