Since its launch, the Ford Mustang Mach-E has proven to be a conquest sales champ for The Blue Oval, as the EV crossover continues to entice owners of other-branded vehicles to purchase one. This mass exodus doesn’t just consist of existing EV owners, either, as quite a few Mach-E buyers are brand new to the world of all-electric vehicles as well. Now, new data from Edmunds also reveals that a relatively large number of Ford Mustang Mach-E buyers are coming from luxury brands too, once again demonstrating the model’s broad appeal across a wide variety of demographics.
In a recently report highlighting four EV trends to watch in 2023, Edmunds took a closer look at its sales and trade-in data through November 2022 for three models – the Ford Mustang Mach-E, Hyundai Ioniq 5, and Kia EV6. From there, the site recognized a number of interesting trends, chiefly among them, the fact that luxury buyers are gravitating toward each – the Mach-E more than most, it seems.
While just six percent of trade-ins taken by Ford come from existing luxury vehicle owners as a brand, a total of 23 percent traded in their luxury vehicle for a Mach-E, compared to 17 percent for the Ioniq 5 and 18 percent for the EV6.
This news comes as the Mach-E continues to gain market share on the current EV segment leaders – the Tesla Model 3 and Model Y – both of which Ford’s crossover is chasing in terms of sales at the moment. As Ford Authority reported last month, the vast majority of Mach-E buyers are new to both Ford and electric vehicles, with its top conquests being the Toyota RAV4, Honda CR-V, and Jeep Wrangler. Meanwhile, Tesla’s market share has dropped from 79 percent in 2020 to 65 percent this year so far, while Ford ranks second with seven percent.