Latest news with #SaidDeep
Yahoo
09-05-2025
- Automotive
- Yahoo
Ford will raise the sticker price on cars imported from Mexico. It just said it didn't expect significant US price hikes
Ford is hiking the sticker prices for the three US models it imports from Mexico by up to $2,000 each, just days after executives said they didn't expect significant increases in industrywide car prices this year. The price increase was disclosed in a memo sent to Ford dealerships, first reported by Reuters but confirmed by Ford. Ford said the manufacturer's suggested retail price (MSRP), also known as the 'sticker price,' would increase between $600 to $2,000 per vehicle, depending on the features. Ford said the price hike doesn't apply to vehicles currently on the lot, but will apply to those built after May 2, which start arriving at dealerships in several weeks. 'This is our usual mid-year pricing actions combined with some tariffs we are facing,' Ford spokesman Said Deep told CNN. '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.' Since April 3, imported vehicles have faced a tariff of up to 25%. Most of the major automakers import some of their US vehicles from foreign plants, including those in Mexico. Ford assembles three US models in Mexico: the Ford Mustang Mach-E electric vehicle, the Maverick midsize pickup and the Bronco Sport, an entry-level SUV. Those models accounted for about 17% of Ford's first quarter US sales. The price hike does not mean customers will necessarily pay $2,000 more per vehicle. Retail prices are set across millions of individual negotiations between buyers and dealers, although the MSRP is typically a starting point. Despite the tariff on car imports, and an additional tariff on imported parts raising the cost of production, most automakers have been slow to announce price increases pegged to import taxes. Ford said last week it would continue to offer customers the promotional 'employee pricing' through July 4. Ford says it has a sufficient inventory of vehicles built and imported before tariffs took effect to handle purchases through that date. During a media briefing Monday, Ford CFO Sherry House would not comment on Ford's own pricing plans, but said she didn't expect new car pricing in the United States to increase significantly. Ford itself said it expects the tariffs will cost it about $1.5 billion through the rest of this year. 'We now expect industry pricing related to tariffs (to increase) about 1% to 1.5% in the second half,' she said.
Epoch Times
07-05-2025
- Automotive
- Epoch Times
Ford Hikes Mexico-Built Vehicle Prices as Tariffs Take Hold, But Keeps Discount Through July 4
Ford Motor Co. has increased prices on several Mexican-built vehicles by $600 to $2,000, citing a combination of standard midyear pricing adjustments and new U.S. auto tariffs. The price hikes apply to the Maverick pickup, Bronco Sport SUV, and Mustang Mach-E crossover, with affected vehicles expected to reach dealerships in late June, a company spokesperson told The Epoch Times in a written statement. 'This is our usual mid-year pricing actions combined with some tariffs we are facing,' said Ford spokesman Said Deep. '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.' Ford has not disclosed how much of the price hike can be attributed to the Trump administration's new tariff policy, which imposes a 25 percent levy on many foreign-built vehicles and parts. Despite the added costs, Said noted that Ford is 'While we amended prices, this does not impact vehicles in dealer inventory,' the spokesperson said. 'Our employee pricing program–From America, For America—continues through July 4th and our dealers have great stock and plenty of vehicles for our customers to choose from.' The move comes as Ford on Monday Related Stories 5/2/2025 5/1/2025 Executives said higher U.S. content gives Ford a competitive edge under the new tariff policy, which targets foreign-built vehicles and parts. Ford CEO Jim Farley 'It's still too early to fully understand our competitors' responses to these tariffs,' Farley said on the call. 'It's also early to gauge the related market dynamics, including the potential industrywide supply chain disruptions and the impact of Ford's domestic manufacturing advantages. And as a result, we've decided to suspend our guidance. 'It's clear, however, that in this new environment ... automakers with the largest U.S. footprint will have a big advantage, and boy, is that true for Ford. It puts us in the pole position.' Ford on Monday On the call with analysts, Farley said Ford is evaluating near-term steps to boost the use of U.S.-made parts across its lineup, including the F-150, Mustang, Taurus, and electric and hybrid models. As part of that shift, Ford has halted vehicle exports to China but will continue using the country as a trade hub for countries in the Asia-Pacific region and other markets with favorable U.S. trade ties. 'Looking ahead, even though nearly 80 percent of our parts that we use in the U.S. are USMCA compliant, we are looking for opportunities where it makes sense to develop local supply chains,' Farley said. 'Relative to adding manufacturing capacity in the U.S., for Ford, this is a continuation, not a course correction.' President Donald Trump has said that one of the objectives of the new tariff policy is to encourage domestic manufacturing.
Yahoo
07-05-2025
- Automotive
- Yahoo
Ford will raise the sticker price on cars imported from Mexico. It just said it didn't expect significant US price hikes
A Ford Mach-E at a Ford dealership in Colma, California. - David Paul Morris/Bloomberg/Getty Images Ford is hiking the sticker prices for the three US models it imports from Mexico by up to $2,000 each, just days after executives said they didn't expect significant increases in industrywide car prices this year. The price increase was disclosed in a memo sent to Ford dealerships, first reported by Reuters but confirmed by Ford. Ford said the manufacturer's suggested retail price (MSRP), also known as the 'sticker price,' would increase between $600 to $2,000 per vehicle, depending on the features. Ford said the price hike doesn't apply to vehicles currently on the lot, but will apply to those built after May 2, which start arriving at dealerships in several weeks. 'This is our usual mid-year pricing actions combined with some tariffs we are facing,' Ford spokesman Said Deep told CNN. '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.' Since April 3, imported vehicles have faced a tariff of up to 25%. Most of the major automakers import some of their US vehicles from foreign plants, including those in Mexico. Ford assembles three US models in Mexico: the Ford Mustang Mach-E electric vehicle, the Maverick midsize pickup and the Bronco Sport, an entry-level SUV. Those models accounted for about 17% of Ford's first quarter US sales. Despite the tariff on car imports, and an additional tariff on imported parts raising the cost of production, most automakers have been slow to announce price increases pegged to import taxes. Ford said last week it would continue to offer customers the promotional 'employee pricing' through July 4. Ford says it has a sufficient inventory of vehicles built and imported before tariffs took effect to handle purchases through that date. The price hike does not mean customers will necessarily pay $2,000 more per vehicle. Retail prices are set across millions of individual negotiations between buyers and dealers, although the MSRP is typically a starting point. During a media briefing Monday, Ford CFO Sherry House would not comment on Ford's own pricing plans , but said she didn't expect new car pricing in the United States to increase significantly. Ford itself said it expects the tariffs will cost it about $1.5 billion through the rest of this year. 'We now expect industry pricing related to tariffs (to increase) about 1% to 1.5% in the second half,' she said. For more CNN news and newsletters create an account at
Miami Herald
07-05-2025
- Automotive
- Miami Herald
Ford increases prices on Mexico-built vehicles after tariff hike
Business Ford increases prices on Mexico-built vehicles after tariff hike Ford Motor Co. is increasing prices on its Mexico-built vehicles by as much as $2,000, becoming one of the first automakers to announce a price hike because of tariffs. Changes on dealer invoices became effective May 2 on the Maverick small pickup, Bronco Sport SUV and Mustang Mach-E all-electric crossover, according to the memo obtained by The Detroit News. That means affected vehicle will arrive on dealership lots in late June, the company confirmed. The Dearborn automaker attributed the hike to usual midyear pricing action as well as tariffs. "We have not passed on the full cost of tariffs to our customers," Ford spokesperson Said Deep said in an email. "Our approach throughout this evolving situation continues to be doing what's right for our customers - and our business." Ford last week extended its "From America, For America" employee discount pricing campaign launched in early April through the July 4 weekend. That program remains in place and is available on the Mexico-built vehicles. Ford previously had communicated price increases could be coming on May production in the absence of material changes on tariff policy. But Trump last week announced changes to his auto tariffs, preventing certain duties from stacking on top of them and offering credits on imported parts for manufacturers assembling vehicles in the United States. Still, 25% import taxes on more than 100 categories of auto parts, from engines and steering wheels to hinges and more began being collected on Saturday after a 25% levy on imported vehicles took effect in early April. Ford this week estimated it's exposed to $2.5 billion in tariff costs in 2025, but expects to offset about $1 billion of that. "We have to watch what our competitors do," Ford CEO Jim Farley said last week about pricing increases following Trump's tariff adjustments. "That's the key. Half the industry in the U.S. is imported, and they have $5,000 to $10,000 costs. Will they just absorb those? Will they pass them on to customers? That will be a big decision, because the pricing decision is a competitive decision." Analysts have warned that automakers won't be able to absorb all of the costs created by tariffs, and it will result in price increases for U.S. consumers, which could affect demand and production of new vehicles. The East Lansing-based Anderson Economic Group has projected price increases from $2,000 to $15,000 per vehicle. Certain Maverick trims will see an increase of up to $1,150 on their manufacturer's suggested retail price as well as a $100 hike in destination fee and increases on certain options. Bronco Sport's increase is up to $1,200 on the Outer Banks model, and certain packages also are more expensive. Mach-E's increase is up to $2,000 with certain options also seeing an increase. In April, Maverick sales rose 67%, Bronco Sport increased 55% and Mach-E fell 40% with the company citing low inventory ahead of a model changeover. Ford Chief Financial Officer Sherry House this week said to offset tariffs, Ford has begun using bonded trucks transporting vehicles and parts from Mexico to Canada through the United States, stopped shipments to China because of retaliatory levies and adjusted production of the China-built Lincoln Nautilus. But no production changes had been made to plants in Mexico, she said. The company also expects that because 80% of the vehicles it sells in the United States are built here, it has the opportunity to increase market share from companies more exposed to the import taxes. Reuters first reported on the price increases. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers. This story was originally published May 7, 2025 at 1:02 PM.
Chicago Tribune
07-05-2025
- Automotive
- Chicago Tribune
Ford increases prices on Mexico-built vehicles after tariff hike
Ford Motor Co. is increasing prices on its Mexico-built vehicles by as much as $2,000, becoming one of the first automakers to announce a price hike because of tariffs. Changes on dealer invoices became effective May 2 on the Maverick small pickup, Bronco Sport SUV and Mustang Mach-E all-electric crossover, according to the memo obtained by The Detroit News. That means affected vehicle will arrive on dealership lots in late June, the company confirmed. The Dearborn automaker attributed the hike to usual midyear pricing action as well as tariffs. 'We have not passed on the full cost of tariffs to our customers,' Ford spokesperson Said Deep said in an email. 'Our approach throughout this evolving situation continues to be doing what's right for our customers — and our business.' Ford last week extended its 'From America, For America' employee discount pricing campaign launched in early April through the July 4 weekend. That program remains in place and is available on the Mexico-built vehicles. Ford previously had communicated price increases could be coming on May production in the absence of material changes on tariff policy. But Trump last week announced changes to his auto tariffs, preventing certain duties from stacking on top of them and offering credits on imported parts for manufacturers assembling vehicles in the United States. Still, 25% import taxes on more than 100 categories of auto parts, from engines and steering wheels to hinges and more began being collected on Saturday after a 25% levy on imported vehicles took effect in early April. Ford this week estimated it's exposed to $2.5 billion in tariff costs in 2025, but expects to offset about $1 billion of that. 'We have to watch what our competitors do,' Ford CEO Jim Farley said last week about pricing increases following Trump's tariff adjustments. 'That's the key. Half the industry in the U.S. is imported, and they have $5,000 to $10,000 costs. Will they just absorb those? Will they pass them on to customers? That will be a big decision, because the pricing decision is a competitive decision.' Analysts have warned that automakers won't be able to absorb all of the costs created by tariffs, and it will result in price increases for U.S. consumers, which could affect demand and production of new vehicles. The East Lansing-based Anderson Economic Group has projected price increases from $2,000 to $15,000 per vehicle. Certain Maverick trims will see an increase of up to $1,150 on their manufacturer's suggested retail price as well as a $100 hike in destination fee and increases on certain options. Bronco Sport's increase is up to $1,200 on the Outer Banks model, and certain packages also are more expensive. Mach-E's increase is up to $2,000 with certain options also seeing an increase. In April, Maverick sales rose 67%, Bronco Sport increased 55% and Mach-E fell 40% with the company citing low inventory ahead of a model changeover. Ford Chief Financial Officer Sherry House this week said to offset tariffs, Ford has begun using bonded trucks transporting vehicles and parts from Mexico to Canada through the United States, stopped shipments to China because of retaliatory levies and adjusted production of the China-built Lincoln Nautilus. But no production changes had been made to plants in Mexico, she said. The company also expects that because 80% of the vehicles it sells in the United States are built here, it has the opportunity to increase market share from companies more exposed to the import taxes.
