More People Are Trading in CR-Vs, RAV4s, to Buy a Ford Maverick Truck. Are Trucks Just Cooler?
More people are now trading in Hondas and Toyotas than Fords to buy a new Maverick pickup. While the term “conquest sale” isn’t a term most of us throw around. But, to a dealer or a manufacturer, those words are golden. A “conquest” is when someone trades in a competing vehicle for a new one, instead of the same model. Usually, people trade a Honda for a Honda or a Ford for another Ford.
Are trucks just cooler than SUVs? Now, more folks are trading in their reliable, popular, SUVs or compact cars for Ford’s new Maverick pickup.
More than 60% of Maverick buyers trade in another brand’s vehicle
Ford recently released its newest sales figures, and it noted that a Maverick’s conquest rate is over 60 percent. That means that 60% of the vehicles traded in on a new Maverick were not Fords. The three most traded-in vehicles for the new 2023 Maverick were the Honda Civic, Honda CR-V SUV and Toyota’s RAV4, which is the best-selling SUV on the market today. That’s unusual because most small car buyers don’t often trade up to a pickup truck. Many of us would expect someone to trade in another small truck, like the Hyundai Santa Cruz, instead.
How does a Maverick compare to a CR-V or RAV4?
All three, the Maverick, CR-V and RAV4 seat five and have fuel efficient motors. The Maverick, though, because of its open 54.4-inch bed can carry infinitely more stuff than either SUV. The 2023 CR-V can carry 76.5 cubic feet of stuff, and the RAV4 69.8, but that’s only if you put all the seats down, limiting these to two-passenger vehicles. All three come as front-wheel drive vehicles, but all-wheel drive is optional.
The Maverick does earn great fuel economy, especially with the base hybrid motor. Sure, the RAV4 Hybrid gets a combined 40 mpg, but it starts at $30,225. The base RAV4 only gets a combined 30 mpg, according to the EPA. The all-new CR-V for 2023 has a new three-cylinder motor, and it can achieve 40 mpg, as well. But, it starts at $32,000. A new base Maverick can be bought in the low $20,000 range. But, that base truck comes with a hybrid motor, making it the cheapest hybrid you can buy today, and it gets a stunning 37 MPG combined rating from the EPA. That’s about three times what some full-sized trucks get.
Why is the Maverick a hot-selling truck?
The Maverick seems to be bucking regular sales trends. Ford’s hot-selling Maverick truck turned on dealer lots in just 6 days last month with sales up 123%. The upcoming 2023 model is not much different from the outgoing 2022, so it seems there’s pent-up demand for a small truck like the Maverick.
Though Ford opened its 2023 order banks online for the Maverick, it quickly got all the orders it could process, and closed them. Then, in August, it announced some new packages for the Maverick, including an off-road Tremor version, and re-opened ordering. Dealers will soon be getting 2023 Mavericks, and they are quickly selling out of leftover 2022 Mavericks.
The New Tremor brings some off-road cred to the Maverick
Speaking of the new Tremor, it’s expected to boost Maverick sales even more. It comes with the 250-horsepower 2.0-liter EcoBoost engine, instead of the base 2.5-liter hybrid engine that has 162 horsepower. The Tremor package also adds all-wheel drive, a 1-inch lift, and a unique suspension to handle the trails.