Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics

As traffic congestion and air pollution rise at alarming rates in many cities worldwide, new smart technologies are emerging to meet the urban mobility challenge. In addition, automotive firms have transformed their business models to make them more sustainable and to adjust to demand response. Elec...

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Bibliographic Details
Main Authors: Jose Esteves, Daniel Alonso-Martínez, Guillermo de Haro
Format: Article
Language:English
Published: MDPI AG 2021-08-01
Series:Sustainability
Subjects:
Online Access:https://www.mdpi.com/2071-1050/13/16/9223
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spelling doaj-7e5c75ddcd7743de89b2cf3566846ae02021-08-26T14:22:31ZengMDPI AGSustainability2071-10502021-08-01139223922310.3390/su13169223Profiling Spanish Prospective Buyers of Electric Vehicles Based on DemographicsJose Esteves0Daniel Alonso-Martínez1Guillermo de Haro2Department of Information Systems and Technology, IE Business School, 28006 Madrid, SpainFacultad de Ciencias Económicas y Empresariales, Campus de Vegazana s/n, Universidad de León, 24071 León, SpainDepartamento de Dirección Estratégica, Emprendimiento e Innovación, EAE Business School, 28002 Madrid, SpainAs traffic congestion and air pollution rise at alarming rates in many cities worldwide, new smart technologies are emerging to meet the urban mobility challenge. In addition, automotive firms have transformed their business models to make them more sustainable and to adjust to demand response. Electric vehicles (EVs) represent a viable option to reduce ecological damage and improve public health. However, in the previous literature, no consensus has been reached on the profile of prospective buyers of EVs. Based on a large-scale sample of Spanish citizens and using cluster analysis, our study provides a better understanding of the demographics of such prospective buyers. We identified four types of EV prospective buyers. Our results show that although men have a strong preference for EVs, low-income older women prove to be the most EV-aware group; their automotive driving experience and concern for sustainability could be among the underlying causes of this particular interest. Another valuable insight is the greater partiality of older people for EVs. These findings have many implications for managers, especially in the automotive industry, policymakers, and sustainability strategists. They show that EV prospective buyers should not be approached as a homogeneous group but as a heterogeneous group with different socio-demographic characteristics that might help decision-makers make better business decisions.https://www.mdpi.com/2071-1050/13/16/9223electric vehiclessmart urban mobilityelectromobilitydemand responseautomotive marketsustainability
collection DOAJ
language English
format Article
sources DOAJ
author Jose Esteves
Daniel Alonso-Martínez
Guillermo de Haro
spellingShingle Jose Esteves
Daniel Alonso-Martínez
Guillermo de Haro
Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
Sustainability
electric vehicles
smart urban mobility
electromobility
demand response
automotive market
sustainability
author_facet Jose Esteves
Daniel Alonso-Martínez
Guillermo de Haro
author_sort Jose Esteves
title Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
title_short Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
title_full Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
title_fullStr Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
title_full_unstemmed Profiling Spanish Prospective Buyers of Electric Vehicles Based on Demographics
title_sort profiling spanish prospective buyers of electric vehicles based on demographics
publisher MDPI AG
series Sustainability
issn 2071-1050
publishDate 2021-08-01
description As traffic congestion and air pollution rise at alarming rates in many cities worldwide, new smart technologies are emerging to meet the urban mobility challenge. In addition, automotive firms have transformed their business models to make them more sustainable and to adjust to demand response. Electric vehicles (EVs) represent a viable option to reduce ecological damage and improve public health. However, in the previous literature, no consensus has been reached on the profile of prospective buyers of EVs. Based on a large-scale sample of Spanish citizens and using cluster analysis, our study provides a better understanding of the demographics of such prospective buyers. We identified four types of EV prospective buyers. Our results show that although men have a strong preference for EVs, low-income older women prove to be the most EV-aware group; their automotive driving experience and concern for sustainability could be among the underlying causes of this particular interest. Another valuable insight is the greater partiality of older people for EVs. These findings have many implications for managers, especially in the automotive industry, policymakers, and sustainability strategists. They show that EV prospective buyers should not be approached as a homogeneous group but as a heterogeneous group with different socio-demographic characteristics that might help decision-makers make better business decisions.
topic electric vehicles
smart urban mobility
electromobility
demand response
automotive market
sustainability
url https://www.mdpi.com/2071-1050/13/16/9223
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