It originally said tariffs wouldn’t affect its vehicle prices.
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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
00:292025.
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.