Ford Motor Co. said it is not passing along the full cost of tariffs to consumers, but it will raise prices on vehicles built in Mexico after May 2.

Ford Motor has hiked prices on three of its Mexico-produced models effective May 2, becoming one of the first major automakers to adjust sticker prices following U.S. President Donald Trump's tariffs.

Ford Motor Co. is boosting sticker prices on models it builds in Mexico by as much as $2,000 even after its top executive said it would hold the line on pricing to see how rivals would react to President Donald Trump’s 25% auto tariffs.