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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai mulls small pickup truck production in US

  • PUBLISHED :March 26, 2018 - 13:36
  • UPDATED :March 26, 2018 - 13:36
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[THE INVESTOR] Hyundai Motor is mulling to produce a small pickup truck in the United States to avoid high tariffs and meet growing local demand, the company said on March 26.

The Korean carmaker has pushed forward with a plan to develop a pickup truck for the US market after unveiling the Santa Cruz truck concept at the Detroit Motor Show in 2015.

Producing the cars in the North American market can allow it to skirt high tariffs that Washington imposes on imported pickup vehicles.

Hyundai has been hesitant in the past, as the US pickup truck market is a highly brand-loyal segment that is dominated by brands such as General Motors and Ford Motor.

Among Asian automakers, Japanese carmakers, such as Toyota Motor and Nissan Motor, were quick to enter the US pickup truck market but have not been able to catch up with segment leaders.

For Hyundai, it is critical to diversify its product portfolio by adding new models, such as a pickup and sport-utility vehicles, for long-term survival in the world’s most important vehicle market, analysts said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)



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