Intention of Consumers to Purchase Electric Vehicles in Developing Countries

Abstract

Electric vehicles (EVs) have appeared as a strategic solution for minimizing vehicle emissions. For the successful integration of EVs into existing transportation frameworks, it's critical to know the reasons which influence consumer buying decisions towards EVs. This study is designed to delve into these factors, with a specific emphasis on consumer perceptions. A survey was administered in October 2023, targeting potential buyers in Qasimabad Taluka, Hyderabad City, yielding 400 valid responses. The analysis employing binary logistic regression, provided empirical insights. The outcomes revealed that gender, specifically being male, and falling within a certain income bracket were significant indicators of a propensity to acquire an EV. Conversely, individuals in their 20s and 30s were less inclined to consider purchasing EVs. These results offer actionable guidance for the formulation of marketing methodologies and act like a benchmark for stakeholders in the EV sector to enhance the effectiveness of policies aimed at promoting EV adoption.