The companies reported on Tuesday that U.S. car sales for Ford and South Korea’s Hyundai will rise in May as concerns over potential tariff-related price increases prompted buyers to act quickly on buying cars and SUVs.
U.S. President Donald Trump's tariffs have exacerbated uncertainty across the automotive industry, increased supply costs, put pressure on profit margins and pushed some automakers to pass on fees to consumers.
Sales are also driven by the price and deals, affordable pickups and crossovers.
Overall Ford's sales rose to 220,959 from 190,014 a year ago.
Detroit automaker's F-Series Truck Sales rose 15% to 79,817 units in the month.
Ford extended discount rates to its customers in April, which are usually reserved for workers to keep sales going, although the automaker also rose prices on three products made in May.
Hyundai also reported that in May, U.S. auto sales rose by 84,521 units year-on-year.
Hyundai U.S. CEO Randy Parker said in an interview Tuesday that the company noticed that demand in March and April collected a “slight rush” of charges because they were concerned about potential tariff prices rising.
But Parker added that no decision was made to replace the branded vehicle due to the tariffs.
The price protection plan set by automakers in early April ended on June 2 without extensions. The plan guarantees no interest rate hikes on new vehicles sold during this period.
“This period really marks our regular annual pricing review,” Parker said. “We look at market dynamics, consumer demand, independent of tariffs.”
