International Journal of Economics, Finance and Management Sciences

| Peer-Reviewed |

Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai

Received: 12 November 2015    Accepted:     Published: 12 November 2015
Views:       Downloads:

Share This Article

Abstract

Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospective goal. The major air pollutants in Shanghai come from the emission of vehicles’ exhaust. Hence, it is urgent to develop the NEVs’ industry. In this paper, we are willing to obtain the characteristics of the NEV’s Potential Consumers and their willingness to pay for the NEVs. We construct the binary logistic model to analyze the characteristics of NEV potential consumer in Shanghai with the data obtained from the questionnaires. The consumers are classified into five categories by Twostep Cluster, and we also analyze the price range of whom are willing to purchase the NEVs. The conclusion indicates that the potential consumers of NEVs in Shanghai are people who are under 25 years old, having 4 family members, concerning on the national policies of the NEVs, acquiring the NEVs’ information from the distributor and having a highly approval of Green Purchase. The firms should focus on these groups in their strategies. In addition, the hybrid energy vehicles between 10 million yuan and 20 million yuan appeal to the consumers more. The government of Shanghai should increase subsidies’ strength of hybrid energy vehicles to gradually realize the goal of promoting the NEVs.

DOI 10.11648/j.ijefm.20150305.31
Published in International Journal of Economics, Finance and Management Sciences (Volume 3, Issue 5, October 2015)
Page(s) 594-598
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

New Energy Vehicles (NEVs), Binary Logistic Regression, Twostep Cluster Analysis

References
[1] Zhong Wuya, Yan Wei. Analysis on urban economic development in view of PM2.5. Urban Insight, vol. 5, pp. 169-174, 2013.
[2] Li Jia. Is the opportunites of NEVs coming? [J]. High-Technology & Industrialization, vol. 19, pp. 67-69, 2012.
[3] Kahn M. Do greens drive hybrids or hummers? Environmental ideology as a determinant of consumer choice. Journal of Environmental Economics and Management, vol. 54, pp.129-145, 2007.
[4] Gao H.O., Kitirattragarn V .Taxi owners’ buying preferences of hybrid-electric vehicles and their implications for emissions in New York City. Transportation Research Part A, vol. 42, pp. 1064–1073, 2008.
[5] Bradley F. The impacts of environmental knowledge and attitudes on vehicle ownership and use. Transportation Research Part D, vol. 14, pp.272–279, 2009.
[6] Michael K.H., George R.P., Willett K., Meryl P.G. Willingness to pay for electric vehicles and their attributes. Resource and Energy Economics, vol. 33, pp. 686-705, 2011.
[7] Theo L., Silke M., Sven H., Johann F. W. Who will buy electric cars? An empirical study in Germany. Transportation Research Part D, vol. 16, pp. 236–243, 2011.
[8] Sjaanie K., Judith C., Brian F., Michael F. How important is vehicle safety in the new vehicle purchase process? Accident Analysis and Prevention, vol. 40, pp. 994–1004, 2008.
[9] Sun Fujing, Sun Mianmian, Yang Yilei. The comprehensive statistical characteristics of NEVs’ consumers. China Economist, vol. 27, pp. 38-39, 2012.
[10] Ma Shaohui, Tan Hui, Dai Yisheng. Consumer Characteristics and Preference Analysis in New Energy Vehicle Marke. Journal of Industrial Technological Economics, vol. 33, pp. 113-121, 2013.
[11] Wissam Dib, Alexandre Chasse, Philippe Moulin, Antonio Sciarretta, Gilles Corde. Optimal energy management for an electric vehicle in eco-driving applications. Control Engineering Practice, vol. 29, pp. 299-307, 2014.
[12] Joseph Bailey, Jonn Axsen. Anticipating PEV buyers’ acceptance of utility controlled charging. Transportation Research Part A: Policy and Practice, vol.82, pp. 29-46, 2015.
[13] Florent Querini, Enrico Benetto. Agent-based modelling for assessing hybrid and electric cars deployment policies in Luxembourg and Lorraine. Transportation Research Part A: Policy and Practice, vol.70, pp. 149-161, 2014.
[14] Paul D. Larsona, Jairo Viáfara, Robert V. Parsons, Arne Elias. Consumer attitudes about electric cars: Pricing analysis and policy implications. Transportation Research Part A: Policy and Practice, vol. 69, pp. 299-314, 2014.
[15] Jerome Dumortier, Saba Siddiki, Sanya Carley, Joshua Cisney, Rachel M. Krause, Bradley W. Lanec, John A. Rupp, John D. Graham. Effects of providing total cost of ownership information on consumers’ intent to purchase a hybrid or plug-in electric vehicle. vol.72, pp. 71-86, 2015.
[16] Lars-Henrik Björnsson, Sten Karlsson. Plug-in hybrid electric vehicles: How individual movement patterns affect battery requirements, the potential to replace conventional fuels, and economic viability. Applied Energy, vol. 143, pp. 336-347, 2015.
Author Information
  • The School of Economics, Shanghai University, Shanghai, China

Cite This Article
  • APA Style

    Qinxin Guo. (2015). Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai. International Journal of Economics, Finance and Management Sciences, 3(5), 594-598. https://doi.org/10.11648/j.ijefm.20150305.31

    Copy | Download

    ACS Style

    Qinxin Guo. Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai. Int. J. Econ. Finance Manag. Sci. 2015, 3(5), 594-598. doi: 10.11648/j.ijefm.20150305.31

    Copy | Download

    AMA Style

    Qinxin Guo. Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai. Int J Econ Finance Manag Sci. 2015;3(5):594-598. doi: 10.11648/j.ijefm.20150305.31

    Copy | Download

  • @article{10.11648/j.ijefm.20150305.31,
      author = {Qinxin Guo},
      title = {Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai},
      journal = {International Journal of Economics, Finance and Management Sciences},
      volume = {3},
      number = {5},
      pages = {594-598},
      doi = {10.11648/j.ijefm.20150305.31},
      url = {https://doi.org/10.11648/j.ijefm.20150305.31},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.ijefm.20150305.31},
      abstract = {Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospective goal. The major air pollutants in Shanghai come from the emission of vehicles’ exhaust. Hence, it is urgent to develop the NEVs’ industry. In this paper, we are willing to obtain the characteristics of the NEV’s Potential Consumers and their willingness to pay for the NEVs. We construct the binary logistic model to analyze the characteristics of NEV potential consumer in Shanghai with the data obtained from the questionnaires. The consumers are classified into five categories by Twostep Cluster, and we also analyze the price range of whom are willing to purchase the NEVs. The conclusion indicates that the potential consumers of NEVs in Shanghai are people who are under 25 years old, having 4 family members, concerning on the national policies of the NEVs, acquiring the NEVs’ information from the distributor and having a highly approval of Green Purchase. The firms should focus on these groups in their strategies. In addition, the hybrid energy vehicles between 10 million yuan and 20 million yuan appeal to the consumers more. The government of Shanghai should increase subsidies’ strength of hybrid energy vehicles to gradually realize the goal of promoting the NEVs.},
     year = {2015}
    }
    

    Copy | Download

  • TY  - JOUR
    T1  - Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai
    AU  - Qinxin Guo
    Y1  - 2015/11/12
    PY  - 2015
    N1  - https://doi.org/10.11648/j.ijefm.20150305.31
    DO  - 10.11648/j.ijefm.20150305.31
    T2  - International Journal of Economics, Finance and Management Sciences
    JF  - International Journal of Economics, Finance and Management Sciences
    JO  - International Journal of Economics, Finance and Management Sciences
    SP  - 594
    EP  - 598
    PB  - Science Publishing Group
    SN  - 2326-9561
    UR  - https://doi.org/10.11648/j.ijefm.20150305.31
    AB  - Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospective goal. The major air pollutants in Shanghai come from the emission of vehicles’ exhaust. Hence, it is urgent to develop the NEVs’ industry. In this paper, we are willing to obtain the characteristics of the NEV’s Potential Consumers and their willingness to pay for the NEVs. We construct the binary logistic model to analyze the characteristics of NEV potential consumer in Shanghai with the data obtained from the questionnaires. The consumers are classified into five categories by Twostep Cluster, and we also analyze the price range of whom are willing to purchase the NEVs. The conclusion indicates that the potential consumers of NEVs in Shanghai are people who are under 25 years old, having 4 family members, concerning on the national policies of the NEVs, acquiring the NEVs’ information from the distributor and having a highly approval of Green Purchase. The firms should focus on these groups in their strategies. In addition, the hybrid energy vehicles between 10 million yuan and 20 million yuan appeal to the consumers more. The government of Shanghai should increase subsidies’ strength of hybrid energy vehicles to gradually realize the goal of promoting the NEVs.
    VL  - 3
    IS  - 5
    ER  - 

    Copy | Download

  • Sections