Ford is raising the price of the all-electric Mustang Mach-E SUV and popular entry-level Maverick pickup by as much as $2,000 due to the import taxes President Donald Trump is placing on vehicles made in Mexico, according to Reuters.
Higher prices could make it harder for traditional automakers like Ford to sell their EVs. Ford was already losing billions of dollars on scaling up its EV program. It may only get more difficult if the $7,500 federal EV tax credit goes away, which is something both Trump and House Speaker Mike Johnson have hinted is coming.
The price hikes come just a few days after Ford said the tariffs will add $2.5 billion to the company’s costs across the remainder of 2025. General Motors said the impact could be as high as $5 billion.
The new pricing applies to vehicles built after May 2, Reuters reports. Ford did not immediately respond to a request for comment.
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