It originally said tariffs wouldn’t affect its vehicle prices.
Transcript:
Just days after company executives said it doesn’t expect tariffs to cause big price hikes on cars, Ford is doing an about-face.
The carmaker said the MSRP, or sticker price, would increase between $600 and $2,000 per vehicle.
Speaking with CNN, a Ford spokesperson said, “We have not passed on the full cost of tariffs to our customers. Our approach throughout this evolving situation continues to be doing what’s right for our customers – and our business.”
The company recently said tariffs would cost it roughly $1.5 billion through the rest of 2025.
Ford assembles three car models in Mexico — the Ford Mustang Mach-E electric vehicle, the Maverick midsize pickup and the Bronco Sport — all of which face the 25% tariff now facing imported vehicles. Those three models made up 17% of Ford’s U.S. sales in Q1.
Ford said the new price increases would not apply to any cars already on lots, but will affect any vehicle built after May 2. Those cars will be delivered to dealerships within the next few weeks.
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