(WXYZ/AP) — Ford is increasing the prices on three vehicles made in Mexico due to President Donald Trump's tariffs.
Ford has informed dealers it will soon raise prices on three vehicles: the Mustang Mach-E electric SUV, the Maverick XLT all-wheel-drive pickup, and the Bronco Sport Heritage Series.
The Mustang Mach-E’s sticker price will increase by up to $2,000, while the Maverick will rise about $700 and the Bronco Sport about $600.
Said Deep, a Ford spokesperson, said the more expensive prices will only impact newly-imported cars built after May 2.
"We have NOT passed on the full cost of tariffs to our customers," Deep said in a statement to Scripps. "Our approach throughout this evolving situation continues to be doing what’s right for our customers – and our business."
Watch below: How Trump's tariffs are shaping the auto market landscape
On Monday, Ford said it expects to take a $1.5 billion hit from tariffs this year and has withdrawn its full-year financial guidance due to ongoing uncertainty.
The company reported that its net income fell by about two-thirds in the first quarter, while revenue dropped 5%. General Motors also said it is preparing for a potential impact from the auto tariffs.
President Donald Trump has imposed a 25% tariff on all imported vehicles. Additional tariffs on parts used to build cars and trucks in the U.S. also took effect, a move expected to raise production costs.
Last week, Trump announced limited relief, including reimbursements for domestic automakers that import car parts.
Watch below: Industry expert, worker reflect on President Trump's auto tariff pullback
This story was originally published by the Scripps News Group in Detroit and the Associated Press.
