|
Original research
DYNAMICS OF ELECTRIC VEHICLE ADOPTION: A COMPREHENSIVE ANALYSIS OF CONSUMER PREFERENCESPages 79-90
Abstract:
This study investigates the factors influencing electric vehicle (EV) adoption among a diverse sample of 303 respondents, primarily focusing on demographic characteristics, price sensitivity, performance expectations, and sustainability concerns. Data were collected using structured questionnaires, which were validated through Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA). The demographic analysis revealed a predominantly young and well-educated sample, with 64.7% male respondents and 95.7% holding at least a Bachelor's degree. EFA identified three significant components affecting EV adoption: Price, Performance, and Sustainability, accounting for a cumulative variance of 67.624%. CFA confirmed the model's fit with a CMIN/DF ratio of 2.508 and an RMSEA of 0.071, indicating an acceptable model fit. Results highlight the importance of price considerations, particularly government incentives and long-term savings, as well as performance attributes such as driving experience and reliability. The factor of sustainability emerged as a critical driver, reflecting growing environmental awareness among consumers. The findings suggest that strategies promoting the financial and environmental benefits of EVs could resonate with potential buyers, particularly within younger, educated demographics. This research contributes to the understanding of consumer attitudes toward EVs and provides valuable insights for manufacturers and policymakers aiming to enhance EV adoption. Future research is recommended to explore diverse consumer perspectives and motivations for adopting electric vehicles across various demographics.
Keywords: Electric Vehicles, Consumer Adoption, Sustainability.
|
N. Vikram Dhanush, 
PDF 