Just days after the company said it didn’t expect auto prices to increase this year, a memo sent to Ford’s dealerships revealed it would hike prices on three of its Mexican-made models, Reuters first reported. The suggested retail price is expected to increase anywhere between $600 to $2,000 per car beginning May 2 and would hit the Maverick, known as the most affordable pickup truck in the country.
Last month, the Trump administration imposed a 25 percent tariff on imported vehicles and auto parts, a devastating blow to car manufacturers who have long freely imported cars and parts without fee.
On Monday, Ford said Trump’s tariffs were likely to drop the company’s profits for the year by about $1.5 billion, but that it is “well positioned to adapt to the changes tariffs are driving” in the industry. The majority of Ford’s cars are manufactured in the U.S., so it likely won’t be hit as hard by Trump’s tariffs as other manufacturers. Still, the three models it makes in Mexico—the Ford Mustang Mach-E, the Maverick, and the Bronco Sport—are already going up in price.
The auto industry has been relatively supportive of Trump’s tariff scheme and manufacturers have been slow to peg price increases to the president’s economic policies. But now, not even Ford, the pride and joy of the American auto industry, can’t keep up the facade.
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