Abstract
With the aim of analyzing preferences for hybrid electric vehicles (HEVs), two stated preference methods (a contingent valuation exercise and a discrete choice experiment (DCE)) were used in a survey conducted in a representative sample of Spanish drivers. Overall, our findings show robustness between the willingness to pay (WTP) estimates elicited via a latent class model (LCM) and those from a payment card question. In both cases results show an average positive WTP, although insufficient to actually cover the extra cost of HEVs. The lack of interest for HEVs may be motivated by different reasons, including the low level of information related to this technology, and additional false believes about the autonomy of these vehicles. Furthermore, drivers who declare a willingness to buy HEVs do not always do so for environmental reasons, but rather for reputational issues related to their self-image. Thus, in order to increase the market share for HEV vehicles in the Spanish market, informative campaigns and additional economic incentives may be designed.
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