Exploring Consumer Preferences Towards Electric Vehicles in emerging markets

Author : Ehsanul Huda Chowdhury, Daniella Fjellstrom, Jose de Souza Junior, Lucas Lopes Ferreira de Souza

Abstract :The aim of the study was to identify the criteria consumers consider when purchasing electric vehicles (EVs) in emerging markets. The study was conducted in Brazil using the Free Word Association Technique (FWAT) that investigated the criteria consumers consider while purchasing EVs. The study included one hundred respondents. The respondents were allowed to select up to three criteria from options such as comfort, performance, economy, maintenance, resale-value, technology, design, and color that they prefer while selecting EVs. A descriptive analysis revealed that the most frequent criteria were Economy (32 mentions) and Maintenance (26), followed by Performance and Comfort. The result shows that Comfort was chosen as the first criteria whereas Economy was typically chosen as the second or third criteria. Maintenance was predominantly selected as the third criteria. These findings highlight consumer prefer balance driving experience and cost-effectiveness while choosing EVs. Understanding these consumer priorities provides insights for EVs marketers to develop business model to influence consumers to adopt zero emission EVs in emerging markets. The study also suggests that public policies and market strategies should address both practical and emotional criteria to promote customer adoption to sustainable mobility and zero emission.

Keywords :Brazil, electrical vehicles, criteria, comfort, economy, maintenance.

Conference Name :International Conference on Green Growth and Circular Economy (ICGGCE -24)

Conference Place Istanbul, Turkey

Conference Date 29th Nov 2024