Factors Influencing Electric Vehicle Purchases in India: A Quantitative Study

Jay Bhasin; Nandini Srivastava

doi:10.61707/7sbw5894

Authors

Jay Bhasin Research Scholar, SLM, Manav Rachna International Institute of Research and Studies
Nandini Srivastava Professor SLM &Supervisor, Manav Rachna International Institute of Research and Studies

DOI:

https://doi.org/10.61707/7sbw5894

Keywords:

Electric Vehicles, Consumer Behavior, Environmental Benefits, India, Sustainable Mobility

Abstract

Environmental concerns and dwindling fossil fuels drive the transition from internal combustion engines to electric vehicles (EVs). This study investigated the factors influencing Indian consumers' EV purchase intentions. Data from 439 respondents, including EV and non-EV owners, were collected using a 12-item survey. A binomial logistic regression model assessed the impact of environmental benefits (EB), cost and economic benefits (CEB), performance and technology benefits (PTB), and social image (SI) on EV purchase decisions among Indian consumers. Results indicate that environmental benefits, cost and economic benefits, and performance and technology benefits significantly influence consumer decisions, while social image does not. These findings underscore the crucial role of financial factors and vehicle performance in driving EV adoption in India. Implications for government policies and consumer decision-making are discussed.