Factors Influencing Prospects’ Willingness to Purchase Electric Vehicles

Abstract

The aim of the study is to explore factors influencing prospect’s willingness to purchase electric vehicles and examine the influence of those factors. The scope of the study confined to examine factors influencing Andhra Pradesh Capital Region (Amaravathi) prospects’ willingness to purchase electric vehicles. The approach of the study is qualitative but the method is quantitative, exploratory and descriptive in nature. The data collected using well-structured questionnaire from randomly selected 1200 prospects of electric vehicles. The collected information/data transcribed/analysed using descriptive statistical tools and regression. The results revealed that performance attributes are strongly associates with willingness to buy electric vehicles. The results, statistical analysis regression value ‘r’ exhibited that there is lot of scope to purchase electric vehicles when the performance attributes effectively assorted as per the requirements of the customer.  Finally, this paper provides implications to manufacturers and scope for further research.