Yahoo Finance

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.