Willingness to pay for electric vehicles and their attributes

Hidrue, Michael K.; Parsons, George R.; Kempton, Willett; Gardner, Meryl P.

doi:10.1016/j.reseneeco.2011.02.002

Cited by 855 publications

(499 citation statements)

References 18 publications

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“…A similar result is observed by Krause et al (2016), whose assessment of vehicle preferences in the USA found that 44% of consumers would select a pure battery EV under the conditions of price and performance parities. The high costs associated with the production of EV battery packs are often cited as the primary source of EV price premiums and thus one of the main inhibitors of adoption (Axsen et al 2010;Hidrue et al 2011).…”

Section: Past Researchmentioning

confidence: 99%

Consumer structure in the emerging market for electric vehicles: Identifying market segments using cluster analysis

Morton

Anable

Nelson

2016

International Journal of Sustainable Transportation

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Article:Morton, C orcid.org/0000-0003-0984-9580, Anable, J orcid.org/0000-0002-4259-1641 and Nelson, J (2017) Consumer Structure in the Emerging Market for Electric Vehicles: Identifying market segments using cluster analysis. International Journal of Sustainable Transportation, 11 (6 ReuseUnless indicated otherwise, fulltext items are protected by copyright with all rights reserved. The copyright exception in section 29 of the Copyright, Designs and Patents Act 1988 allows the making of a single copy solely for the purpose of non-commercial research or private study within the limits of fair dealing. The publisher or other rights-holder may allow further reproduction and re-use of this version -refer to the White Rose Research Online record for this item. Where records identify the publisher as the copyright holder, users can verify any specific terms of use on the publisher's website. TakedownIf you consider content in White Rose Research Online to be in breach of UK law, please notify us by emailing eprints@whiterose.ac.uk including the URL of the record and the reason for the withdrawal request. 1 Consumer Structure in the Emerging ABSTRACTThis paper presents results from a segmentation analysis of the emerging market for Electric Vehicles (EVs). Data has been sourced through the application of a self-completion household questionnaire distributed over two cities in the United Kingdom (UK). A two stage cluster analysis methodology has been followed to identify market segments in a dataset of UK drivers. Five unique segments have been identified in the analysis and are characterised by their preferences for EVs, socio-economic characteristics, current car details, and socio-psychological profiles. These segments hold a range of different EV preference levels, from those who appear unwilling to adopt an EV to those which are clearly attracted to EVs. Moreover, the features of these segments tend to suggest that segments might be attracted to or repelled from EVs for different reasons. These results demonstrate that a significant degree of consumer stratification is present in the emerging market for EVs, with the possible implications being that policy interventions at the market, as opposed to segment, level may prove ineffective due to their inability to cater for the nuances of important segments.

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Section: Past Researchmentioning

confidence: 99%

Consumer structure in the emerging market for electric vehicles: Identifying market segments using cluster analysis

Morton

Anable

Nelson

2016

International Journal of Sustainable Transportation

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“…Perhaps the average 13 consumer is willing to stop for longer if this implies that they would have to stop less often. The 14 difference in additional willingness-to-pay (WTP) for reducing charging time from 1 hour to ten minutes 15 is roughly similar to the additional WTP for increasing the performance of the electric vehicle from 5% 16 slower than a gasoline vehicle to 5% faster (Hidrue et al, 2011). 17…”

Section: Why Didn't Better Place Overcome Range Anxiety? 13mentioning

confidence: 85%

Why Did Better Place Fail?: Range anxiety, interpretive flexibility, and electric vehicle promotion in Denmark and Israel

Noel

Sovacool

2016

Energy Policy

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With almost $1 billion in funding, Better Place was poised to become one of the most 10 innovative companies in the electric mobility market. The system Better Place proposed had two novel 11 prongs; first, to reduce the cost of batteries, and second, to reduce range anxiety, public infrastructure 12 concerns, and long charging times. Yet, despite this seemingly strong combination, Better Place failed to 13 make any progress in Denmark and Israel, the first two markets it operated in, and subsequently 14 declared bankruptcy, selling off its collective assets for less than $500,000. Drawing from science and 15 technology studies and the notion of "interpretive flexibility," this paper posits several reasons to 16 explain the failure of Better Place, including that Denmark is not as "green" as it seems nor is the Israeli 17 market as attractive as believed, and that Better Place's solution to charging time and range anxiety 18 resolved a psychological, not a functional, barrier of the general public to adopt electric vehicles. Before 19 investigating these two reasons, the paper presents a short history of Better Place and explores the 20 contours of its operations in Denmark and Israel. It then discusses why Better Place "failed" across both 21 countries before concluding with implications for energy planning, policy, and analysis. 22 2

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“…According to Santini and Vyas (2005), Potoglou and Kanaroglou (2007), and Hidrue at al. (2011), younger people with higher education and those who are more interested in new technology are inclined to prefer electric cars.…”

Section: Forecasting Market Shares Of Environment-friendly Vehicles Umentioning

confidence: 99%

Forecasting Market Shares of Environment-Friendly Vehicles under Different Market Scenarios

Bae¹,

Jung²

2013

Environmental and Resource Economics Review

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:The purpose of this study is to estimate consumer preferences on hybrid cars and electric cars by employing a choice experiment reflecting the various market conditions, such as different projected market shares of green vehicles and CO2 emission regulations. Depending on different market scenarios, we examine as to which attribute and individual characteristic affect the preferences of potential consumers on green vehicles and further, forecast the potential market shares of green cars. The primary results, estimated by a conditional logit and panel probit models, indicate that sales price, fuel cost, maximum speed, emission of air pollutants, fuel economy, and distance between fuel stations can significantly affect consumer's choice of environment-friendly cars. The second finding is that the unique features of electric cars might better appeal to consumers as the market conditions for electric cars are improved. Third, education, age, and gender can significantly affect individual preferences. Finally, as the market conditions become more favorable toward green cars, the forecasted market shares of hybrid and electric vehicles will increase up to 67% and 14% .

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Willingness to pay for electric vehicles and their attributes

Cited by 855 publications

References 18 publications

Consumer structure in the emerging market for electric vehicles: Identifying market segments using cluster analysis

Consumer structure in the emerging market for electric vehicles: Identifying market segments using cluster analysis

Why Did Better Place Fail?: Range anxiety, interpretive flexibility, and electric vehicle promotion in Denmark and Israel

Forecasting Market Shares of Environment-Friendly Vehicles under Different Market Scenarios

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