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 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.