A preliminary model of U.S. light-duty vehicle demand is presented which contains an integrated analysis of automobiles and light trucks (under 10,000 lbs. GVW). The model has been estimated using both cross-section and time-series data, and is a development of previous Wharton models. It is a long-run, annual, econometric model providing both forecasts and policy analyses. Light trucks are divided into personal-use and commercial-use categories. The latter are quite distinct in behavior, while personal-use truck demand is combined with automobile demand, and shows many similarities in its determinants. The model includes relationships and estimates for: vehicles in operation, sales, new registrations, scrappage, purchase prices, fuel economy, vehicle miles travelled, gasoline consumption, and other operating costs, taxes, and the influence of demographics.
The Demand for Light Duty Trucks: The Wharton EFA Motor Vehicle Demand Model (Mark II)
1981
136 pages
Report
No indication
English
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