(WXYZ/AP) — Ford is reportedly increasing the prices on vehicles that are made in Mexico due to President Donald Trump's tariffs.
According to a report from Reuters, Ford is one of the first major automakers to increase prices on vehicles after the tariffs.
Reuters reviewed a notice sent to dealers that showed prices on the Mustang Mach-E, Bronco Sport and Maverick pickup truck will increase by as much as $2,000.
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In a statement to 7 News Detroit, Ford said the memo reviewed by Reuters is a "usual mid-year pricing actions combined with some tariffs we are facing," and that "we have not passed on the full cost of tariffs to our customers."
Ford also said that the price increases will only go into effect on Ford imported vehicles built after May 2 or later, which are expected to arrive in dealers in late June.
Last week, Ford CEO Jim Farley said it is extending its "employee pricing" offer to buyers for another month, lasting through July 4. According to Ford, those vehicles that will have price increases will still have employee pricing on them through July 4.
On Monday, Ford said it expects to take a $1.5 billion hit from tariffs this year and it also withdrew its full-year financial guidance due to uncertainty.
According to Ford, its net income fell by about 2/3 in the first quarter and revenue dropped 5%. GM also said it is bracing for a potential impact from auto tariffs.
Trump has placed a 25% tariff on all imported cars, and new tariffs also went into effect on parts used to build cars and trucks in the U.S., which is expected to raise the cost of production.
Last week, Trump announced some relief, reimbursing domestic car producers that import car parts.
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