Ford doesn’t an about-face on pricing

It originally said tariffs wouldn’t affect its vehicle prices.

Transcript

00:00Just days after company executives said it doesn't expect tariffs to cause big price

00:03hikes on cars, Ford is doing an about-face.

00:06The carmaker said the MSRP, or sticker price, would increase between $600 and $2,000 per

00:12vehicle.

00:13Speaking with CNN, a Ford spokesperson said, quote,

00:15We have not passed on the full cost of tariffs to our customers.

00:18Our approach throughout this evolving situation continues to be doing what's right for our

00:22customers and our business.

00:25The company recently said tariffs would cost it roughly $1.5 billion through the rest of 2025.

00:31Ford assembles three car models in Mexico, the Ford Mustang Mach-E electric vehicle, the

00:35Maverick midsize pickup, and the Bronco Sport, all of which face the 25% tariff now facing

00:41imported vehicles.

00:43Those three models make up 17% of Ford's U.S. sales in Q1.

00:47Ford said the new price increases would not apply to any cars already on lots, but will

00:51affect any vehicle built after May 2nd.

00:54Those cars will be delivered to dealerships within the next few weeks.

00:58That'll do it for your daily briefing.

00:59From New York City, I'm Lauren Torres with The Street.