A Study on How Perceived Benefits Affect Consumer Preference for Electric Vehicles in Bengaluru North
摘要
Only 1% of the vehicles, both cars and motorcycles, currently found on Indian roads are electric, while the majority continues to rely on gasoline, petrol and diesel. India's dependence on crude oil imports due to the absence of domestic production exerts significant pressure on its balance of payments. In an effort to catch up with the global electric vehicle (EV) trend, several automakers are capitalizing on the situation by manufacturing and promoting EVs. However, Indian customers’ attitude toward EVs remains an issue. Consequently, an extensive investigation was conducted to identify the many factors that either encourage or dissuade people from converting from conventional carbon-fueled cars to electric ones. A well-structured questionnaire was used to collect primary data for the study, which then used percentage and chi-square analysis to assess it. A well-structured questionnaire was used to collect primary data for the study, which then used percentage and chi-square analysis to assess it. Despite previous research suggesting that awareness plays a pivotal role in consumers’ decisions to purchase electric vehicles, this study revealed that awareness levels do not have a significant impact. Rather, statistically significant results show that price parity with gasoline/petrol/diesel vehicles, environmental concern, and changes in fuel prices are the main factors influencing consumer preferences for buying electric vehicles.