This was already known, but now Ford has provided the evidence…
In a splashy press release that dropped last week, Ford bragged that almost 70 percent of Mach-E buyers come from other brands. This really should be no shock to anyone who’s been paying attention. After all, most Mustang fans really hate the running pony badge being applied to a four-door, all-electric crossover of all things. And while some in the media have tried to pretend like the Mach-E is carrying on the Mustang legacy, these sorts of figures paint a different picture.
If the Mach-E really were considered a true Mustang, people who are diehard Ford loyalists would be flocking to it. Instead, what we see are a bunch of people who have to own the latest and greatest toy on the block scooping them up. Many of these individuals have likely mocked Mustang owners sometime in the near past, but now they consider themselves "one of them" because they have the EV crossover in their driveway. It’s a completely different group who like the Mach-E, which is why the thing never should have been called a Mustang in the first place.
The Mustang brand is perhaps the most recognized of all the model lines Ford has ever produced. Why Ford wants to water down its reputation by slapping the name and badge on something which is definitely not like all the other Mustangs is just mystifying. But keep in mind Ford was hell-bent on turning its pony car into a front-wheel-drive car based on a Mazda before the SN95 was created, so there’s unfortunately some history behind these sorts of hare-brained decisions in the halls of the Blue Oval.
Once Ford does launch an all-electric, two-door version of the Mustang, I’m sure the number of conquest sales or people coming from other brands won’t be such a high percentage. That won’t be a result of other people not being interested in an EV Mustang, but instead it will be from so many Mustang loyalists wanting to try out the latest development in the actual model line instead of a bloated crossover simply called a Mustang. Sure, some will be repulsed at the absence of a V8 so they won't buy one and that I understand, but enough will be curious that the percentage of conquest sales will be less of a factor.
It’s worth noting that Ford says Maverick and Bronco/Bronco Sport buyers are also coming in droves from other brands. Automakers love these conquest sales since they help increase market share, which makes investors very happy. With all the financial problems Ford has suffered over the past several years, it really wants to make Wall Street happy and it sees EVs as key to doing just that.
Ford will sacrifice anything on the altar of Wall Street, including its Mustang enthusiasts, because at the end of the day that seems to be what really matters. Somehow, executives appear to have forgotten who’s stood by Ford even when it made silly, stupid decisions in the past, including saving the company from absolutely wrecking the Mustang name about three decades ago.