Analysis of Factors Influencing Consumer’s EV Purchase Behavior Based on Decision-Making Model

Abstract

As of 2023, electric vehicles (EVs and PHEVs) account for approximately 38% of the Chinese market, making it the world's largest in terms of sales volume, which indicates the successful adoption of electric vehicles. In this researching, we attempt to analyze consumer vehicle purchasing behavior as a perspective on the future market for electric vehicles. Specifically, we analyze the factors influencing consumers' decision-making process for purchasing electric vehicles based on the BME (Blackwell, Miniard & Engel) model. The factors affecting consumer decisions consist mainly of external and internal factors. From electric vehicle attributes, we extracted external influencing factors such as environmental image, policies, and brand image, as well as internal factors including resale value and design. A questionnaire survey was conducted from August to November 2024, obtaining 115 responses. The survey results revealed that four factors were significant: driving assistance systems, environmental image, resale value, and policies. Based on these findings, we propose methods to further accelerate the adoption of electric vehicles in the Chinese market.