Factors Influencing Purchasing Decisions on Electric Vehicles (EV) Consumers in Nakhon Ratchasima Province
DOI:
https://doi.org/10.14456/nrru-rdi.2024.34Keywords:
Purchasing Decisions, Electric Vehicles, Consumer FactorsAbstract
Background and Objective: Behavioral situations of the automotive industry in Thailand is also witnessing a rapid increase in adoption of electric vehicles (EV). The study has the following objectives: 1) To make a comparison of consumers’ decision-making to purchase an EV based on individual factors in Nakhon Ratchasima Province, 2) To study factors affecting decision-making of consumers to purchase an EV in Nakhon Ratchasima Province, and 3) to create a predictive equation model for decision-making of consumers to purchase an EV in Nakhon Ratchasima Province.
Methodology: This research carried out a quantitative method. The sample consisted of 405 respondents being consumers in Nakhon Ratchasima Province who had actively intention and decision to purchase an EV. Data were collected through questionnaires. Besides the use of descriptive statistics such as mean, standard deviation for data analysis, and inferential statistics such as the t-tests F-test and stepwise multiple regression in hypothesis testing.
Results: The findings of this study suggest that among the marketing mix variables, consumers’ perception on the marketing strategies had the most influence on the purchase of EV ( =4.02, S.D.=0.50). In terms of targeting ages and income segment, the target segment focus should on younger consumers (18-24) as well as consumers income above 35,001 baht in monthly income as both segments had a positive significant relationship in purchase decision of EVs (p<0.05). While attitude factors and technology acceptance factors affect consumers' decision to purchase electric vehicles, they can predict 58.70 percent of the decision to purchase electric vehicles, with the prediction equation in the form scores as Y=0.270+0.348(X1)+0.580(X3).
Discussion: The results show that different consumer age and income levels significantly impact EV purchasing decisions, with attitudes and technology acceptance.
Suggestions: Future EV adoption strategies should focus on infrastructure development and improving the EV supply chain across production from upstream to downstream. This will encourage broader participation from all sectors in Nakhon Ratchasima Province and support the growing demand for EV in the future.
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