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. 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 on Wednesday said it is raising prices on three models produced in Mexico, pointing to higher U.S. tariffs on imported vehicles as one reason for the adjustment. The vehicles subject to the price increases of up to $2,000 per model include the Maverick, Bronco Sport and Mach-E, Ford said in a statement to CBS News.