More than 74% of Ioniq 5 sales were conquests of competitive brands
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by Chris Chilton
February 23, 2025 at 3:00 p.m.
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- Almost three -quarters of Ioniq 5 buyers go to Hyundai from another brand.
- The model has a winning rate of 22% better than other Hyundai models.
- Cadillac’s Lyriq SUV also steals buyers, but Toyota BZ4X is doing less well.
If the clear design, impressive technology and solid performance of Ioniq 5 showed you Hyundai in a new light, you are not alone. New data show that the model has helped the Korean brand pinch thousands of customers far from other car manufacturers.
More than 74% of IONIQ 5 sales were conquests of competing brands, according to figures from S&P Global Mobility Analysis of electric vehicle trends between January and October 2024. This places the IONIQ 5 nearly 22 percentage points before the average Hyundai vehicle with regard to brand conquest rates.
Related: The best January of Hyundai sees the overvoltage of sales EV 15% like ioniq 5 rockets 54%
Lyriq de Cadillac is another electric vehicle that has achieved what none of the other cars of the luxury brand GM could do. Almost 73% of Lyriq buyers leave Cadillac from other car manufacturers, this figure being 16 percentage points better than the Caddy average.
Further from the list, some brand models have a low and simple conquest rate lower than the Lyriq and Ioniq 5, but are worthwhile to note because they work so much better than other brands cars.
Take the Mustang Mach-E and Ford F-150 Lightning, for example. The overall Ford conquest rate is the lowest on the table less than 37%, but the Mach-E and lightning both reach at least 21 percentage points more in terms of conquests.
Not all electric vehicles of the Conquest League table have not proved more effective than their sisters powered by ice to rival clients of rival brands. The conquest rate of 61.2% of Porsche Taycan seems solid until you realize that the number is 0.3 percentage points lower than the average Porsche figure.
And BZ4X from Toyota puts embarrassing performance at the bottom of the list. Only 33.5% of electric WAT buyers were new to the Japanese brand, down 7 percentage points on its average victory rate of 40.5%. The Twin Subaru Solterra du BZ was third from below, although its conquest rate of 45.3% is much less horrible. The BZ4X and Solterra offer less power and scope than other electric vehicles such as Ioniq 5, and potential buyers do not seem to have missed these facts.
