Hyundai and Kia are offering discounts of up to $17,000 on their electric vehicle models in several key global markets as part of a broader effort to boost sales outside the United States amid rising trade tensions and looming tariffs.
The South Korean carmakers have launched aggressive promotional campaigns across regions including North America, Europe, the Middle East, Asia, and Latin America. Discounts are being applied to popular models such as the Hyundai Ioniq 5, Ioniq 6, and the Kia EV9.
According to the Korea JoongAng Daily, buyers in Serbia are seeing price cuts of up to $17,400 on some models, while promotions are also underway in Thailand and Chile, including on select internal combustion vehicles.
The moves come as Hyundai and Kia seek to counterbalance potential losses in the United States, where a newly imposed 25% tariff on imported vehicles could disrupt pricing strategies. While both automakers have committed to holding prices steady in the U.S. through July 7, they may be forced to adjust if the trade policy remains in place.
In response, Hyundai and Kia have directed their regional operations to raise sales volumes by 10% in other markets. The U.S. represents nearly one-quarter of the companies’ combined global business, making it a critical market for profitability and long-term growth.
To mitigate future tariff impacts, both brands are accelerating plans to expand local production in the United States, which would allow them to sidestep some of the most severe cost pressures from import duties.
