Abstract Governments worldwide have begun supporting eco-friendly vehicles to reduce greenhouse gas (GHG) emissions. However, differences exist between their sales and the government targets owing to high purchase costs and lack of charging infrastructure. For the spread of eco-friendly vehicles, it is crucial to understand the demand side as well as research investment. However, scant research analyzes consumer preferences for eco-friendly vehicles, particularly fuel cell electric vehicles (FCEVs), which have recently entered the market. To address this research gap, this study uses a discrete choice model to examine consumer preferences for all vehicles in Korea. The results indicate that consumers have the lowest preferences for FCEVs and the diversity of vehicle types is one of the utmost important attributes. We forecast their future market shares and relative contributions to GHG reduction based on government policies. We expect FCEVs to account for approximately 7% of new vehicles sold in 2030.
Environmental impacts of transportation policy and vehicle market share predictions
2022-11-25
Article (Journal)
Electronic Resource
English
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