Conceptualizing a Decision Making Process Model Around Aspects Influencing Consumers Considering Purchase of Electric Vehicles

Abstract

A global shift towards Electric Vehicles (EV) is evident, with the technology being constantly matured and governments seeking to decarbonise their transport networks. This global push for decarbonisation in transport is mirrored in the United Kingdoms policies with plans to discontinue the sale of new internal combustion engine (ICE) vehicles by 2040. Nevertheless, while the EV industry has made significant gains in the car market, ICE vehicles remain the most predominant mode of transport for consumers. The transition from ICE to EV vehicles is a subject of major interest in industry, government and academic circles due to the numerous economic, social and technical challenges. In particular, the market aspects of this transition and consumer purchase behaviour when exposed to EVs require an in-depth understanding. This paper explores the decision making processes by consumers under various market scenarios when comparing ICE and EV vehicles currently available in the UK market. The contribution of this paper is a discrete choice experimental model that highlights the socioeconomic and technical aspects influencing consumer confidence in making the transition from ICE to EVs.