Purchase Intention for Electric Vehicles Among Young Adults in Thailand

• Main Authors: Daniel Brinkmann, Veera Bhatiasevi
• Other Authors: Mahidol University
• Format: Article
• Published: 2022
• Subjects: Business, Management and Accounting
• Online Access: https://repository.li.mahidol.ac.th/handle/123456789/76475

In response to environmental problems such as air pollution in cities and climate change in general, passenger car and other motorized vehicle, manufacturers have started to produce new sustainable driving mechanisms. Electric car sales have been increasing in countries such as China, Germany and the United States. However, customers in Thailand seem reluctant to embrace various types of electric vehicles (EVs), including battery EVs, hybrid EVs and plug-in hybrid EVs. Focusing on Thailand, this study aims to investigate the key factors that influence young-adult consumers’ purchasing intentions regarding EVs. It applies the political, economic, social and technological factors analysis model as a conceptual framework to analyse how governmental subsidies, purchase price, environmental consciousness, and charging infrastructure influence young people to buy EVs. The sample size consists of 195 young adults, most of whom were master’s degree students living in Bangkok. Data collection was conducted by self-administered printed questionnaires. The result (analysed by ordinary least squares regression) shows that purchase price and environmental consciousness are crucial factors that influence consumers’ purchasing intention. Governmental subsidies and insufficient charging infrastructure do not have a significant relationship with willingness to buy EVs. Vehicle manufacturers need to lower the initial purchase price to make their vehicles more attractive for a younger customer base. Furthermore, government institutions need to promote the positive impact on the environment of new sustainable driving technologies.