Exploring Chinese consumers' brand preference and willingness-to-pay for electric vehicles: A discrete choice experiment

Abstract

Electric vehicles (EVs) are experiencing significant market growth, with brand preference increasingly influencing consumers' purchasing decisions. This study utilizes a discrete choice experiment to investigate Chinese consumers' behavior in selecting EVs based on brand preference, examining their willingness to pay for various attributes, including brand country of origin, brand novelty, price, usage cost, driving range, charging facilities, and charging time. The findings reveal how these attributes impact consumers' purchase intentions and highlight the heterogeneity of preferences related to brand country of origin and brand novelty. Notably, brand country of origin, charging facilities, and driving range significantly affect consumers' EV choice behavior. Chinese consumers exhibit a stronger intention to purchase domestic EVs and are open to emerging brands; however, their preferences vary widely. Non-EV owners tend to favor Chinese brands, while existing EV owners prefer foreign brands. In addition, consumers with multiple cars lean toward traditional brands, whereas those with higher household incomes and education, as well as current EV owners, show a preference for new force brands. These insights provide valuable guidance for manufacturers and policymakers seeking to develop and expand the EV market in China.