Ford is elevating the worth of the all-electric Mustang Mach-E SUV and widespread entry-level Maverick pickup by as a lot as $2,000 because of the import taxes President Donald Trump is inserting on autos made in Mexico, according to Reuters.
Increased costs might make it tougher for conventional automakers like Ford to promote their EVs. Ford was already dropping billions of {dollars} on scaling up its EV program. It might solely get harder if the $7,500 federal EV tax credit score goes away, which is one thing each Trump and Home Speaker Mike Johnson have hinted is coming.
The worth hikes come just some days after Ford stated the tariffs will add $2.5 billion to the corporate’s prices throughout the rest of 2025. Common Motors stated the influence may very well be as excessive as $5 billion.
The brand new pricing applies to autos constructed after Could 2, Reuters reviews. Ford didn’t instantly reply to a request for remark.