Factors affecting consumers’ preferences for electric vehicle: A Korean case

This paper presents a stated preference study of electric vehicles (EVs) in the Korean automobile market based on the survey data, which was conducted in February 2018 in Korea. The purpose of this study is to analyze empirically the factors related to the consumers' attitudes toward environmental issues and vehicle attributes that significantly affect the EV preferences of potential Korean consumers. The authors categorized the survey into two parts: discrete car choice questionnaire and consumers' attitude questionnaire. A total of 1251 respondents were asked to choose their preferred vehicle type between internal combustion engine vehicle and electric vehicle in discrete car choice questionnaire. Their attitude toward environmental issues and vehicle attributes were revealed in the attitude questionnaire. A hybrid choice model is used to jointly integrate Korean consumers' attitudes and their choice decisions. As a result, the authors figured out that consumers who favor EVs are sensitive to environmental pollution issues, especially in vehicle pollution, and place high importance on the future value of automobiles and less importance on vehicle aesthetics when purchasing a car. Also, economic factors such as purchase price and charger subsidies, and charging infrastructure are necessary for successful EV adoption in Korea, with the possibility of a positive externality effect of using EVs.

• Record URL:
  https://doi.org/10.1016/j.rtbm.2021.100666
• Record URL:
  http://www.sciencedirect.com/science/article/pii/S2210539521000493
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/22105395
• Supplemental Notes:
  • © 2021 Elsevier Ltd. All rights reserved. Abstract reprinted with permission of Elsevier.
• Authors:
  • Jung, Jihyeok
  • Yeo, Sangmin
  • Lee, Yeonjeong
  • Moon, Saedaseul
  • Lee, Deok-Joo
• Publication Date: 2021-12

Language

• English

Media Info

• Media Type: Web
• Features: Figures; References; Tables;
• Serial:
  • Research in Transportation Business & Management
  • Volume: 41
  • Issue Number: 0
  • Publisher: Elsevier
  • ISSN: 2210-5395
  • Serial URL: http://www.sciencedirect.com/science/journal/22105395

Subject/Index Terms

• TRT Terms: Attitudes; Choice models; Consumer preferences; Electric vehicles
• Geographic Terms: South Korea
• Subject Areas: Energy; Highways; Vehicles and Equipment;

Filing Info

• Accession Number: 01774440
• Record Type: Publication
• Files: TRIS
• Created Date: Jun 17 2021 11:41AM