Investigation of the Influencing Factors on Consumers’ Purchase Willingness towards New-Energy Vehicles in China: A Questionnaire Analysis Using Matrix Model

Abstract

New-energy vehicles (NEV), particularly electric vehicles, are globally popular with political and financial support from governments, which aim at reducing energy consumption and environmental pollution in the transportation sector. This paper designs a matrix model which identifies the factors influencing the decision-making process on purchasing NEVs, and applies the model on a Chinese case to investigate the impact of influencing factors on Chinese consumers’ purchase behavior to NEVs. The influencing factors are divided into five groups: economic, political, social, technological and environmental. Through a detailed questionnaire survey of 526 consumers in China, this paper conducts a correlation and difference analysis between these consumers’ status and the influencing factors on the purchase decision-making of NEVs through SPSS software. The results indicate that economic, technological and political factors have a strong influence on purchase behavior, while social and environmental factors have a weaker influence. Additional principal component analysis on influencing factors’ preference reveals that consumers’ preferences have two tendencies: practicability or appearance, with the former is attracting far more attention. Rather than practicability or appearance, consumers care more about economic and political factors. According to these results, this paper suggests several policy implications on enhancing the consumers’ willingness to purchase NEVs.