A STUDY ON CONSUMER BUYING BEHAVIOUR TOWARDS ELECTRIC VEHICLES

Abstract

The executive summary of the study on consumer behavior towards buying electric vehicles (EVs) is as follows: Despite the many benefits of electric vehicles, their adoption rate has been slower than expected. To address this issue, this study aimed to understand the factors that influence consumer behavior towards buying EVs and how these factors can be leveraged to increase demand for EVs. The study identified several key factors that influence consumer behavior towards buying EVs, including cost, range anxiety, performance and convenience, environmental and social values, and incentives and policies. These factors interact with each other to shape consumer behavior towards buying EVs. The study also found that consumer awareness and education about EVs play a significant role in shaping their purchase decision. Improving awareness and education about EVs can increase demand for EVs and accelerate their adoption in the market. Government policies and incentives can also significantly influence consumer behavior towards buying EVs. The study identified best practices for incentivizing the adoption of EVs, including offering financial incentives, improving charging infrastructure, and promoting public awareness campaigns. Overall, the study provides insights and recommendations for automakers, policymakers, and other stakeholders in the EV market to increase the adoption of EVs and accelerate the transition to a more sustainable transportation system. By addressing the factors that influence consumer behavior towards buying EVs, it is possible to increase demand for EVs and contribute to a more sustainable future.