Consumer preferences and willingness to pay for advanced vehicle technology options and fuel types

The automotive industry is witnessing a revolution with the advent of advanced vehicular technologies, smart vehicle options, and fuel alternatives. However, there is very limited research on consumer preferences for such advanced vehicular technologies. The deployment and penetration of advanced vehicular technologies in the marketplace, and planning for possible market adoption scenarios, calls for the collection and analysis of consumer preference data related to these emerging technologies. This study aims to address this need, offering a detailed analysis of consumer preference for alternative fuel types and technology options using data collected in stated choice experiments conducted on a sample of consumers from six metropolitan cities in South Korea. The results indicate that there is considerable heterogeneity in consumer preferences for various smart technology options such as wireless internet, vehicle connectivity, and voice command features, but relatively less heterogeneity in the preference for smart vehicle applications such as real-time traveler information on parking and traffic conditions.

• Record URL:
  https://doi.org/10.1016/j.trc.2015.10.003
• Record URL:
  http://www.sciencedirect.com/science/article/pii/S0968090X15003526
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/0968090X
• Supplemental Notes:
  • Abstract reprinted with permission of Elsevier.
• Authors:
  • Shin, Jungwoo
  • Bhat, Chandra R
  • 0000-0002-0715-8121
  • You, Daehyun
  • Garikapati, Venu M
  • Pendyala, Ram M
• Publication Date: 2015-11

Language

• English

Media Info

• Media Type: Web
• Features: Figures; References; Tables;
• Pagination: pp 511-524
• Serial:
  • Transportation Research Part C: Emerging Technologies
  • Volume: 60
  • Publisher: Elsevier
  • ISSN: 0968-090X
  • Serial URL: http://www.sciencedirect.com/science/journal/0968090X

Subject/Index Terms

• TRT Terms: Alternate fuels; Automobiles; Consumer preferences; Intelligent vehicles; Probits; Surveys; Technological innovations
• Uncontrolled Terms: Willingness to pay
• Geographic Terms: South Korea
• Subject Areas: Energy; Highways; Planning and Forecasting; Vehicles and Equipment; I15: Environment; I72: Traffic and Transport Planning; I90: Vehicles;

Filing Info

• Accession Number: 01583961
• Record Type: Publication
• Files: TRIS
• Created Date: Dec 23 2015 8:13AM