Trump’s tariffs are driving up Ford car prices: These are the Mexico-made models that will cost more
Ford informed dealers that it is raising the price of three models produced in Mexico by as much as $2,000 effective 2 May due to Trump’s tariffs.
Ford is the first US car manufacturer to raise the price of its cars following the tariffs imposed by President Donald Trump. Currently, only three models are affected, all are produced in Mexico, cars from which face a 25% when imported into the United States.
The price hikes will apply to Bronco Sport, Maverick pickup, and Mustang Mach-E electric SUV built after 2 May this year, which will arrive on dealer’s lots sometime in June. In a notice to dealers viewed by Reuters, the carmaker said that prices will rise by as much as $2,000.
Ford: “We have not passed on the full cost of tariffs to our customers”
A Ford spokesperson said that the price increases were the result of the company’s “usual mid-year pricing actions combined with tariffs we are facing.” However, the car manufacturer said that it would shoulder some of the financial burden from Trump’s tariffs on assembled cars imported into the US.
“We have not passed on the full cost of tariffs to our customers,” said the Ford spokesperson.
Ford expects lower earnings in 2025
On Monday this week, Ford pulled its full-year financial guidance citing economic uncertainty created by the White House’s trade policies. However, the company expects that tariffs will put a $1.5 billion dent in its adjusted earnings before interest and taxes.
Speaking on an earnings call, Ford CEO Jim Farley told analysts that “it’s still too early to fully understand our competitors’ responses to these tariffs.” However, he saw one potential benefit for the company which has a larger share of the cars it sells in the US assembled domestically.
“It’s clear... that in this new environment, automakers with the largest US footprint will have a big advantage,” he pointed out.
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