Formal new product development (NPD) processes have become an important tool in NPD management. However, our understanding of what makes formal NPD process implementation successful in terms of acceptance and performance is still limited. This paper contributes to an improved understanding of factors affecting the acceptance and use of formal NPD processes. Our results show that acceptance of formal NPD processes is determined by several factors, such as ease of use, transparency of discourse, continuous improvement, involvement of NPD actors, and the ability to bridge differences in thinking. Furthermore, that acceptance of formal NPD processes affects NPD performance positively. These results draw on data from a survey posted to employees working for nine large manufacturers of commercial vehicles worldwide. The results should encourage managers to consider and enhance the factors affecting acceptance. This could be done through using new media for publication to increase transparency and perceived ease of use of the NPD process. Further acceptance of the formal NPD process is increased if it mirrors an operative reality and if organisational structures for improvement of the process are implemented and inclusive to employees involved in NPD. © 2017 World Scientific Publishing Europe Ltd.