Study On The Development Of Electric Vehicles Market Based On Customer's Perceived Value

The rapid development of auto industry improved the life of people,and also affected the ecological environment.In recent years,the rapid rise of air pollution index(PM2.5)in China has challenged the level of human endurance especially for sensitive groups.China's central government pledges to declare war on smog for environment preservation.Tailpipe Emissions of conventional combustion engines constitute a major source of air pollution.As a logical follow-up,electrical vehicle(EV)is becoming an emerging industry,and receives double attention from Chinese government due to its great advantages of cleanness and energy-efficiency.Electric vehicles can be divided.into high speed electric vehicles and low speed electric vehicles.This paper calls the high-speed electric vehicle is which the highest design speed is above 70 km/h,and the highest design speed under 70 km/h calls the low-speed electric vehicle.However,judging from the yet-modest sales and current state of EV industry development,many consumers are still reluctant to buy high-speed electric vehicles.In spite of the maturity of high-speed EVs technology and the local government incentives,The vast majority of users are still in a wait-and-see attitude.As a result,consumer-driven force of high-speed EVs does not follow the expected trend.Marketing report show that high-speed EV market develops slowly due to low purchase intention.For low-speed EV,there is no relevant national policies to support its development,but its low speed is comply with the requierments of suburban and rural consumer,so the low-speed EV market is booming.The total number of low-speed electric cars in China has reached more than 1.5 million units in 2015.Yet there are many problems about low-speed electric cars,some consumers' desire to purchase or own an low-speed EV is still very nonchalant.This paper investigates the main factors that impact on the EV purchase intention from the perspective of consumers,so to accelerate and improve the development of EVs market.After the actual survey in 3 months,I knew the real thoughts and fears of consumers when they considered to buy electric cars.I discussed with the specialists in the electric vehicle demonstrating and operating company in Wuhan combined with the characteristics of electric vehicles,designed the main factors influencing consumer purchase intention.The results of the study are more comprehensive,more well-knit to consumers' idea.In addition,because the Chinese government attach importance to the new energy vehicles,and has adopted a series of stimulus measures,this study take the government policy as a moderator variable,research the acceleration of the government's policy on consumer purchase.In this study,the mean value of consumers'purchase intentions for high-speed electric vehicles was 3.28,which is not very high.In other words,consumers' intentions to purchase EVs are indicative of a wait-and-see attitude.From the survey conducted as part of this study,we found that there was a general perception that EV costs are much higher than costs of traditional automobiles;respondents indicated that the extra savings associated with purchase of traditional vehicles could be used to buy gasoline.Although EVs have no engines and low maintenance costs,there are issues regarding the battery,including possible explosions and the need for periodic replacement.This aspect does not favor the bargain touted regarding the cost of maintenance.Moreover,people fear that widespread use of EVs may cause electrical tension that will result in a sharp rise in the price of electricity.Perceptions regarding a relatively low functional value indicate that the intention to purchase the EV will also be low.Even though there are no exhaust emissions from EVs,power plants will emit air pollutants when producing electricity.This issue is linked to the minimal emotional and social values attributed to EVs.Generally speaking,the overall perceived value is low;therefore,the intention to purchase is low.As stated previously,the EV's battery technology has caused concerns because of the potential for electricity leakage,explosions,and radiation exposure.Additionally,people susceptible to the herd instinct tend to worry about driving EVs when a majority are not driving them.Furthermore,charging facilities are not well equipped,and there is a huge deficiency in the number of charging stations and charging piles.Therefore,it usually takes a long time to recharge a battery.Realistically,it takes eight hours to obtain a 20-kWh charge from a 220 V home plug-in;after charging,the EV can go only 80 km.These factors heighten the perceived risk,thus lowering the purchase intention.Government policy can play a regulatory role for consumers to buy electric vehicles,but the effect is limited.through interview we know the government's policy support is far from enough.Although there are financial subsidies,they are very small,and there are not enough supervision for financial subsidies.The preferential tax policy content is not comprehensive,the tax system is not perfect.Purchasing policy just includes a narrow content,etc.Finally,the industry standard is not perfect,the pattern of industry competition is not good,the enterprise is still need to improve the core technology,they are all the problems we faced with to develop the high-speed electric car market in our country.The mean value of consumers' purchase intentions for low-speed electric vehicles is 3.67(the highest value is 5),which is higher than that of high-speed electric vehicles,it show strong purchase intention for low-speed electric vehicles,it also show that the demand for low-speed electric car in our country is stronger than that for the high-speed electric car.By single factor analysis of variance,four factors including the consumer's age,occupation,region and consumer familiarity with low-speed electric cars have significant impact on purchase intention.The elderly tend to buy low-speed electric cars;Consumers in edge of small and medium-sized cities and rural are willing to buy low-speed electric vehicles;Retirees,farmers are more willing to buy low-speed electric cars as their transport,self-employed is also willing to buy a low-speed electric cars as their short delivery tools;The convenience of low-speed electric cars is also attract the consumer more understanding of it.The regression analysis shows that the respondents generally believed that the function risk,financial risk,physical and psychological risks of the low-speed electric car are small,they have no obvious impact on the purchase of low-speed electric car.The elderly and women think that the low-speed electric car with low speed is more safe,more suitable for them to use in residential areas nearby.About the price,the consumers are generally believed that the price is not high,and the electricity price is much lower than the price of oil,the lead-acid battery price is not expensive,can accepted by them.Low-speed electric car is more convenient and safe to charging in the family,and consumers will be not anxious when they are in short driving range.Driving low-speed electric car without a driver's license is convenient to consumers who has no a driver's license.But many consumers think that low-speed electric car has some problems:one is the improper lead-acid battery recycling can cause environmental pollution;The quality of the product is rough,the service life is short;The management of the low-speed electric car is not very good,driving low-speed electric car can cause a lot of traffic accidents.These problems badly hinders the development of low-speed electric vehicles,they need to be solved as soon as possible.Government policy's regulation on low-speed electric vehicles is very limited,this is mainly because the government has no promotion policy on low-speed electric cars.Finally,relevant suggestions and measures are proposed accordingly based on the current main problems of high-speed and low-speed electric cars in China,and combined with the development experience of abroad.We want to promote the development of the electric car in China.The first section of this paper presents the research background,research content and main innovation points.The second part gives the literature review.The third part proves the relationship between purchase intention and perceived value.The fourth part presents the research model and hypotheses.The fifth and sixth part give the regression analysis according to collected data.The seventh part gives the government's main policy to support the development of electric vehicles.The eighth part is a summary of the development of electric vehicles in the western developed countries.Finally,I give a summary of suggestions to the government and enterprises according to the result of regression analysis,expose the limitations of this study and the future works.