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 has announced a price increase on several models produced in Mexico, attributing the hike to the recent US tariffs, reported Reuters. The affected vehicles include the Mustang Mach-E electric SUV,