DETROIT -- Ford Motor Company says it is increasing the price of three of its most popular vehicles thanks to tariffs instituted by President Donald Trump. According to Reuters, the automaker informed dealerships this week that prices for the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase in the coming weeks.

Ford on Monday said it expects to take a $1.5 billion hit to its operating profit from tariffs this year. The Detroit automaker also withdrew its full-year financial guidance because of mounting economic uncertainty created by the Trump administration's trade policies.

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.