SEOUL: Hyundai Motor Co and Kia may end up benefiting from the US government’s 25% tariffs imposition on Canada and Mexico as the South Korean automakers’ competitors are projected to endure more damage from the tariffs, say auto industry analysts and experts.
S&P Global Mobility reported on Wednesday that the United States imported some 3.6 million light vehicles from Canada and Mexico last year, which accounted for about 22% of all cars sold there last year, pointing out that Mexico is the biggest source of US light-vehicle imports.
