Adds details on price increase, background on actions by other automakers, paragraphs 4-7
By Nora Eckert, David Shepardson
DETROIT, May 19 (Reuters) - Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration's tariffs.
Subaru 7270.T said in a statement that the increases were made in response to "current market conditions," without citing tariffs or specific price actions.
"The changes were made to offset increased costs while maintaining a solid value proposition for the customer. Subaru pricing is not based on the country of origin of its products," the company said in a statement.
Car company executives have recently shared with investors how much the levies will cost them this year, with some in Detroit saying they were expected to add up to $5 billion. While there has been some relief on duties imposed on foreign auto parts, U.S. President Donald Trump has maintained a 25% tariff on the 8 million vehicles the U.S. imports annually.
Ford Motor F.N earlier this month raised prices on three models produced in Mexico by as much as $2,000, becoming one of the first major automakers to respond to Trump's tariffs.
The Subaru price increases will add between $750 and $2,055 to vehicles depending on the model and trim, according to a notice posted on a dealer website. The price increases are expected to hit vehicles on dealer lots starting in June, according to the notice.
Subaru imports 45% of its U.S.-sold vehicles, according to 2024 data from research firm S&P Global Mobility. Its affordable Forester model is one of a handful of lower-cost vehicles set to be most affected by tariffs, according to Cox Automotive executive analyst Erin Keating. The SUV is getting a price hike of between $1,075 and $1,600 depending on the trim, the dealer notice said.
(Reporting by Nora Eckert in Detroit and David Shepardson in Washington; Editing by Sandra Maler and Matthew Lewis)
((nora.eckert@thomsonreuters.com))