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Price increases: 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. Prices on the Mustang Mach-E electric SUV, Maverick pickup and Bronco Sport will increase by as much as $2,000 on some models, according to a notice sent to dealers. Read more from Reuters.
Updating rating: Moody’s Ratings has revised its outlook for the U.S. airport sector to negative from stable, citing an expected hit to air travel from the global trade war as a key reason for its view. The rating agency anticipates enplanements—or the number of people boarding a flight—to decline modestly this year due to a deceleration in economic growth, it said in a May 5 report. Read more from Bloomberg. A subscription may be required.
Economic indicator: A closely watched barometer for used vehicle pricing jumped last month to its highest level since October 2023 as consumers rushed purchases amid fears of price hikes due to auto tariffs. Cox Automotive’s Manheim Used Vehicle Value Index—tracking prices of used vehicles sold at its U.S. wholesale auctions—increased 4.9% last month compared with a year earlier. Read more from CNBC.
