Ford Authority

Ford EV Conquest Rate Holds Strong At 60 Percent In Q1 2023

As it continues to grow its all-electric portfolio, Ford has also continued to produce products that have proven to be rather compelling to owners of other branded vehicles. In terms of electrified models – which includes hybrids, plug-in hybrids, and all-electric vehicles – FoMoCo has routinely enjoyed a conquest rate of more than 50 percent, which means that more than half of electrified Ford buyers gave up a vehicle from another brand to purchase a Blue Oval product. In terms of pure EVs, that number has reached even higher – hitting 70 percent last June, in fact. Now, according to its most recent sales report, the Ford EV conquest rate continues to hold strong, too.

The Ford EV conquest rate in Q1 of 2023 was over 60 percent, according to the automaker, meaning that it hasn’t wavered much over the past few months as the Ford E-Transit, Ford Mustang Mach-E, and Ford F-150 Lightning continue to prove appealing to those that own not only other-branded all-electric vehicles, but those that own vehicles from other brands in general. This appeal has proven so strong, in fact, that the automaker has made conquests part of its overall EV strategy as well.

“What we’ve learned is that we can conquest more as we go electric than we thought,” CEO Jim Farley said in a recent interview. “Most Mach-E and Lightning customers are new even though the products are first-gen products. So, second-generation products, we’re going to lean more into the conquest.”

While the Mach-E has proven appealing to quite a few Tesla owners, the F-150 Lightning’s top three conquests thus far are a bit more varied in scope – the Ram pickup, Tesla Model 3, and Tesla Model X, an interesting mix of ICE and EV models. However, with the EV pickup market being so young, the F-150 Lighting has only two competitors at the moment – the Rivian R1T and GMC Hummer EV – both of which are also relatively new.

We’ll have more on Ford’s EV sales and conquest rates soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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  1. Bart Fitzgerald

    And these are expected to be eligible for a single tax credit, for $3,750:

    Dear FA,
    Did you see the recent news from NPR? They are reporting that several Ford models are going to have their electric vehicle tax credits slashed by the Dept of Treasury in an announcement being published this next week.
    I recall your recent article with comments from Fords CEO indicating Ford vehicles such as the Escape would qualify for more than $6000 in tax credits. The NPR report does not support these comments. I ordered an Escape and the value of the tax credit continues to drop. Who is telling the truth regarding Ford’s consumers situation? Please advise. Bart Fitzgerald

    Tesla Model 3 RWD
    Mustang Mach-E
    Ford E-Transit
    Ford Escape plug-in hybrid
    Lincoln Corsair Grand Touring plug-in hybrid


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