Factor Analysis of EV Purchase Behavior in Medium-sized Cities in China:

Case Study of Luoyang City

Abstract

Electric vehicles (EVs) are the most popular method in the transportation sector to decarbonize and reduce local air pollution. Due to urbanization and policy support, small and medium-sized cities have become favourable markets for promoting EVs. However, current research focuses on large cities and ignores the potential of small and medium-sized cities. This study aims to fill the existing knowledge gap by focusing on the medium-sized urban area of Luoyang. Using exploratory factor analysis, the study attempts to identify and examine the key factors that drive consumer motivation to purchase EVs in this specific city. The results show that the strongest influencing factor on purchase intention is the economic aspect, followed by EV attributes, satisfaction, and environmental awareness. Furthermore, the analysis of individual characteristics shows that the younger population and consumers with previous experience of driving electric cars have higher purchase intention. This study emphasizes the need to consider the safety and convenience of electric vehicles in addition to their economic attributes. It underscores the need to create a level playing field for EVs and to develop strategies that address the characteristics and interests of mainstream EV customers, ultimately promoting their widespread adoption.