Preference and lifestyle heterogeneity among potential plug-in electric vehicle buyers

Jonn Axsen, Joseph Bailey and Marisol Andrea Castro

Energy Economics, 2015, vol. 50, issue C, 190-201

Abstract: We characterize heterogeneity in preferences and motivations regarding plug-in electric vehicles (PEVs)—including plug-in hybrids (PHEVs) and electric vehicles (EVs). Using survey data collected from 1754 new vehicle buying households in Canada in 2013, we segment respondents using two approaches that prove to be complementary. Preference-based segments were constructed using latent-class analysis of discrete choice experiment data. Potential PEV buyers were split into a “PEV-enthusiast” segment (8% of the sample) with extremely high valuation of PEVs and a broader “PHEV-oriented” segment (25%) that expressed moderately positive valuation of PHEVs. Preference-based segments also varied by respondents' valuation of specific attributes such as fuel savings. Our second approach constructed lifestyle-based segments using cluster analysis on a subset of potential early PEV buyers (33% of the total sample). The six lifestyle-based clusters varied in engagement in environment- and technology-oriented lifestyles, environmental concern and openness to change. Overall preferences were fairly similar across the clusters, though apparent motivations varied substantially by cluster as indicated by their differing engagement in lifestyles and environmental concern. Taken together, both approaches suggest that PHEVs are the most likely PEV to have broad market appeal and that car buyers have high degrees of heterogeneity in both preferences and motivations.

Keywords: Consumer preference; Lifestyle; Electric vehicle; Preference heterogeneity; Cluster analysis; Latent class analysis; Discrete choice model (search for similar items in EconPapers)
JEL-codes: O33 Q51 Q55 Q58 R40 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (72)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:50:y:2015:i:c:p:190-201

DOI: 10.1016/j.eneco.2015.05.003

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