Explorer Sport Popular with Young and Affluent Buyers
If you were asked to name one of Ford’s most popular models among younger and more affluent buyers, would the Explorer be one of the first to jump to your attention? What about the more aggressive Ford Explorer Sport? Ford is saying that, since its launch a little more than two years ago, the Explorer Sport model has been a hit with young, college-educated buyers.
Some facts: almost 25% of all Explorer Sport buyers fall within the 16-34 range, and 54% of all Explorer Sport owners are younger than 44, according to the Maritz Research New Vehicle Customer Study.
Comparatively, only 3% of all standard Explorer buyers are under 35, and a mere 32% are younger than 44 years of age.
Additionally, 40% of all Explorer Sport customers earn more than $150,000 a year, which stacks up well compared to 17% for the entire Ford brand. 60 percent of all Ford Explorer Sport buyers hold some college-level degree.
Perhaps the most important figure for Ford: 90% of Explorer Sport sales are for models of a higher trim package that carry a price around $47,000.
“The importance of attracting younger, more affluent customers can’t be overstated,” said Matt Zuehlk, Explorer brand manager. “Younger buyers give automakers a better chance at customer retention, while affluent customers tend to buy highly contented, more expensive vehicles that are typically more profitable.”
A more outwardly aggressive look and the ability to handle on- and off-road are keys to what make the Explorer Sport popular among those with the energy and capital to live active lifestyles.
“We aren’t surprised by the luxury brand trade-ins for Explorer Sport,” said Zuehlk. “It offers world-class performance, comfort and technology at a more affordable price than traditional luxury competitors, especially in largely import luxury markets like New York and Los Angeles.”
Not surprisingly, the Explorer Sport is big in both markets, as well as Detroit, Dallas, Chicago, Denver, and Houston.
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