By Kalea Hall
DETROIT (Reuters) – London-based INEOS Automotive is increasing prices on its premium vehicles as a result of the new 25% tariff on auto imports, the company said Friday.
While the smaller automaker said it’s “doing all it can” to prevent prices on its France-built vehicles from increasing, it will be raising prices at lower percentage rates than the tariff fee.
The automaker, which launched in the U.S. in 2023, said orders placed before April 3, when President Donald Trump instituted the 25% auto tariff, on its U.S. Grenadier SUV will be price-protected without extra charges at the time of delivery.
Prices for new orders of the SUV will be held to a 5% increase, the company said, with the new starting price set at $78,855.
The INEOS Quartermaster pick-up truck, which is already subject to a 25% tax on imported trucks on top of the 25% import tariff, will see a 10% price increase with its new starting price set at $92,900.
North America is INEOS’ largest market, accounting for more than 60% of its global sales. The company does not release sales figures.
(Reporting by Kalea Hall; editing by David Evans)
Comments