The Analysis of China's New Energy Vehicle Industry from the Perspective of Status Quo Bias

Abstract

Based on the background that the national automobile industry is gradually turning to new energy vehicles, this paper mainly takes the sales of new energy vehicles and traditional vehicles as the research object. This paper combs the existing research literatures through comparative analysis, analyses the new energy cars industry and market using the relevant data and chart analysis methods, finds that the sales of new energy vehicles have experienced a rapid growth in recent years. But more consumers still choose fuel vehicles due to status quo bias, while the sales of fuel vehicles have begun to decline since 2019. The findings of this study are that new energy vehicles are the trend of development of cars in future, and the experiences of using new energy cars are also getting better, but there are still some ways to help consumers choose to buy new energy vehicles more quickly like building more charging facilities.