Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics

Jose Esteves, Daniel Alonso-Martínez and Guillermo de Haro
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Jose Esteves: Department of Information Systems and Technology, IE Business School, 28006 Madrid, Spain
Daniel Alonso-Martínez: Facultad de Ciencias Económicas y Empresariales, Campus de Vegazana s/n, Universidad de León, 24071 León, Spain
Guillermo de Haro: Departamento de Dirección Estratégica, Emprendimiento e Innovación, EAE Business School, 28002 Madrid, Spain

Sustainability, 2021, vol. 13, issue 16, 1-22

Abstract: As traffic congestion and air pollution rise at alarming rates in many cities worldwide, new smart technologies are emerging to meet the urban mobility challenge. In addition, automotive firms have transformed their business models to make them more sustainable and to adjust to demand response. Electric vehicles (EVs) represent a viable option to reduce ecological damage and improve public health. However, in the previous literature, no consensus has been reached on the profile of prospective buyers of EVs. Based on a large-scale sample of Spanish citizens and using cluster analysis, our study provides a better understanding of the demographics of such prospective buyers. We identified four types of EV prospective buyers. Our results show that although men have a strong preference for EVs, low-income older women prove to be the most EV-aware group; their automotive driving experience and concern for sustainability could be among the underlying causes of this particular interest. Another valuable insight is the greater partiality of older people for EVs. These findings have many implications for managers, especially in the automotive industry, policymakers, and sustainability strategists. They show that EV prospective buyers should not be approached as a homogeneous group but as a heterogeneous group with different socio-demographic characteristics that might help decision-makers make better business decisions.

Keywords: electric vehicles; smart urban mobility; electromobility; demand response; automotive market; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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