75 Percent of F-150 Lightning Reservations New to Ford
Much to the surprise of some — including even Ford — the all-electric F-150 Lightning has already shot past 150,000 reservations since debuting in May. Perhaps as impressive as the total number of reservations thus far is the fact that more than 75 percent of that figure comes from non-Ford customers.
Ready to Go Electric? The all-new Ford Mustang Mach-E is Car and Driver‘s first EV of the Year
Fast adoption of F-150 Lightning shows readiness for electric
Customers’ hesitance to drive an electric vehicle and the reasons for that trepidation are all well-documented. But Ford seems to have hit on a successful if not fairly foolproof formula: Take one of the bestselling vehicles in America, make it electric, and watch the interest pour in.
And interest has certainly poured forth. By June, inside of a month from its reveal, reservations had hit 100,000. Reservations continued to climb at such a clip that Ford is bolstering production to meet initial demand. Last month, Ford announced an additional $250 million investment in Michigan that will increase output and add 450 jobs.
Prior to the debut of the F-150 Lightning, a Cox Automotive Consumer Snapshot study showed that a considerable number of drivers were ready to make the leap to electric with their next truck. With 150,000 people plunking down $100 (refundable, of course) on the 2022 Ford F-150 Lightning so far, it’s fair to say those folks are putting their money where their mouths are. (Editor’s note: Don’t put money in your mouth. Especially not these days.)
High conquest rates are new trend at Ford
Having 75 percent of 2022 F-150 Lightning reservations come from people who don’t currently drive a Ford is quite the boon for the Blue Oval. It backs up another aspect of that Cox Automotive study that found Ford to be the most desirable brand of the four associated with electric trucks (namely, Rivian, GMC, and Tesla).
But it also supports Ford’s new product slate as a major show-stealer and business-stealer. Ford says that some 70 percent of all 2021 Bronco buyers are new to the brand. In May, Ford said that the Bronco Sport was pulling about 63 percent of its sales from other brands. The primary target, to Ford’s delight, is Jeep.
Another truck that’s pulling in new buyers from other brands is the all-new Maverick. The Maverick, which began arriving at the end of September, has proven a big hit in competitive markets like Los Angeles, Orlando, San Francisco, and Houston. It’s also wrangled business away from other brands and retained customers coming off of leases with the Focus, Fiesta, and Fusion.
Ford also says that the Maverick and other electrified vehicles are conquesting at a higher clip. Thanks to the likes of the F-150 PowerBoost, Explorer Hybrid, and Mustang Mach-E, electrified Fords have a conquest rate six points better than non-electrified vehicles.
While the Bronco, Bronco Sport, and Maverick are all in the wild, Ford has a while to wait to see how the reservations translate to sales with the 2022 F-150 Lightning. But with its mid-2022 launch window, that’s also more time to rack up more reservations and more interest.