By Christopher Otts
Ford Motor is warning it will likely have to increase prices on new vehicles arriving at dealerships this summer, if President Trump doesn't back off his tariff plan.
The Dearborn, Mich.-based automaker told dealers in a memo Wednesday that it anticipates having to take this action, starting with new cars, SUVs and trucks coming off the production line in May. Those models would hit dealer lots in June and July.
The automaker remains committed to holding prices steady until June 2 and continuing to run its previously unveiled employee-pricing-for-all promotion during that time, according to the memo sent by Andrew Frick, the executive in charge of Ford's gas- and electric-car divisions.
Like some other automakers, Ford has resisted price adjustments on its models, following a new 25% auto import tariff imposed by the White House in early April. The car company imports several models from factories abroad, including its popular Maverick compact pickup and the Bronco Sport SUV from Mexico.
Shortly after the new import duties were announced, Ford rolled out a nationwide employee-pricing promotion that gave customers access to discounts offered to its internal workforce.
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(END) Dow Jones Newswires
April 17, 2025 12:06 ET (16:06 GMT)
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