FORD IS WINNING MORE NEW CUSTOMERS FROM COMPETING BRANDS, FUELING MARKET SHARE GAINS
- New trade-in data show Ford is increasingly winning new customers from competing brands, a key reason the company has gained retail U.S. market share for 16 of the past 17 months
- For the Ford brand, the rate of customers who traded in competitive brand vehicles rose 18 percent from 2005 to 2009. The conquest rate for Lincoln rose 61 percent, while Mercury saw a 12 percent increase
- The Ford Fusion, Ford Escape and Mercury Mariner Hybrids, as well as Ford Mustang and Lincoln MKX, attracted the highest number of buyers from competing brands.
- The redesigned Ford Taurus showed the largest increase in attracting new buyers to the Ford brand from 2005 to 2009
DEARBORN, Mich., March 25, 2010 – Ford Motor Company is increasingly attracting customers who are trading in vehicles from competing brands, one of the keys to Ford’s recent market share gains in U.S.
For the Ford brand, the rate of customers who traded in competitive brand vehicles rose 18 percent from 2005 to 2009. The conquest rate for Lincoln rose 61 percent, while Mercury saw a 12 percent increase from 2005 to 2009.
“We’re finding that when customers of competing brands check out our new lineup and understand the quality, fuel efficiency and value we offer, they are increasingly becoming Ford owners,” said Ken Czubay, Ford vice president of Marketing, Sales and Service. “The strength of our new products is making the difference in a very competitive marketplace.”
Among Ford vehicles, the Fusion Hybrid, Escape Hybrid and Mustang attract the most customers who trade in competing brands. For example, more than 60 percent of trade-ins for the Fusion Hybrid were non-Ford vehicles. More than 50 percent of trade-ins for the Ford Mustang were competitive brands.
The redesigned Ford Taurus showed the biggest increase in attracting new customers to the Ford brand between 2005 and 2009.
For the Lincoln and Mercury brands, the Mercury Mariner Hybrid and Lincoln MKX attracted the most customers from competing brands.
“We’re seeing customers from competing brands in the showroom that we haven’t seen in a long time, if ever,” said Kevin Collins, president and owner of the Bill Collins Ford, Lincoln and Mercury dealership in Louisville, Ky. “Customers have been looking at our products for two reasons. They are impressed with Ford products’ quality improvement, and they are pleasantly surprised with our entire lineup. Ford is back on their shopping list.”
Winning new customers from competing brands has been a key to Ford’s ability to gain market share in the U.S. Ford gained U.S. market share in 2009, its first full-year market share gain since 1995. Ford has now gained market share for 16 of the past 17 months.
As Ford attracts new customers, it is seeing a demographic shift among its owners. Since 2002, the average household income of Ford customers has risen about 20 percent and the number of Ford customers with college degrees has risen nearly 10 percent.
New shoppers are hitting the showroom, as well.
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About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 198,000 employees and about 90 plants worldwide, the company’s automotive brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit www.ford.com.