Saturday, November 26, 2022
News Ford is benefitting from very high conquest rates

Ford is benefitting from very high conquest rates

Ford is taking customers away from the other brands with its new models

  • The conquest rate is the proportion of buyers that didn’t have a Ford previously

  • The F-150 Lightning has a conquest rate of 75% and the Bronco, 70%

  • Electric Ford models have a conquest rate higher than gas models by 6 points on average

Ford has launched a number of new products that are generating a lot of interest from consumers, but not just those who already drive Ford vehicles.

Indeed, Ford is enjoying very high conquest rates in the orders for its new products, especially the F-150 Lightning and the Bronco.

With 75% of the people who have ordered one being new to Ford, the F-150 Lightning is the Ford vehicle that appeals to the highest proportion of non-Ford drivers.

This could easily be explained by the fact that the Lightning is the first electric pickup to reach the market and the only one currently sold by an established automaker, but the Bronco also gets 70% of its orders by people who don’t drive a Ford and the Bronco Sport has a 63% conquest rate.

Out of the new Ford customers that buy the Bronco or Bronco Sport, the majority previously drove a Jeep, which is the exact clientele the company was targeting with these products.

The Maverick compact pickup also has a high conquest rate but interestingly, it manages to retain many people who are coming off lease from their Fiesta, Focus or Fusion, meaning they stay in the Ford family despite the company’s move to replace cars with SUVs and trucks.

Also, electrified vehicles form the automaker have conquest rates higher than their gasoline powered counterparts by six points on average.

Since most of these conquests are still only reservations, some may loose interest and cancel before they receive their vehicle, but the company seems to be in a good position to sell their first Ford vehicle to many people in the coming months.

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