Exploring consumer preferences for electric vehicles based on the random coefficient logit model

Siqin Xiong, Yi Yuan, Jia Yao, Bo Bai and Xiaoming Ma

Energy, 2023, vol. 263, issue PA

Abstract: The adoption of electric vehicles (EVs) has been supported by a variety of policies. However, many of these policies failed to accomplish their objectives from the demand side as expected. Grasping consumers' preferences accurately is of great significance to increase the efficacy of the promotion policies. Using the random coefficient logit model (BLP), this paper quantitatively analyses the preferences of EV consumers in China, with an emphasis on regional disparity and different operational purposes. The results show that the preferences for EVs are significantly heterogeneous among consumers in restricted and non-restricted cities, and in cities at different development stages. The driving range and the density of charging stations are the key influencing factors for consumers to choose EVs, and different purchasing groups have different preferences. The demand for long-range EVs mainly comes from taxis, while private EV buyers prefer high-density charging facilities. Thus, at the current stage, building more charging stations will be more efficient compared to subsidizing high-range EVs.

Keywords: Consumer preferences; Electric vehicles; Random coefficient logit model; regional disparity (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:263:y:2023:i:pa:s0360544222023866

DOI: 10.1016/j.energy.2022.125504

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