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Consumer preferences for alternative fuel vehicles in South Korea

Author

Listed:
  • Yeonbae Kim
  • Gicheol Jeong
  • Jiwoon Ahn
  • Jeong-Dong Lee

Abstract

The paper analyses consumer preferences for alternative fuel vehicles based on stated preference data gathered in South Korea. Five fuel type vehicles are considered in the analysis, and a mixed logit model using the Bayesian approach was used for the estimation. Estimation results show that preferences regarding fuel type and body type are heterogeneous, but preferences for cost variables and horsepower are relatively homogeneous across consumers. The results also show that an indirect network effect exists, influencing automobile demand. Simulation results show that diesel and hybrid vehicles will compete in the future for their shares of the market, with lower costs being the main source of competitiveness. Elasticity results show that fuel and maintenance costs are the most important factors influencing choice among alternative fuel vehicles and that an indirect network effect is important as well.

Suggested Citation

  • Yeonbae Kim & Gicheol Jeong & Jiwoon Ahn & Jeong-Dong Lee, 2007. "Consumer preferences for alternative fuel vehicles in South Korea," International Journal of Automotive Technology and Management, Inderscience Enterprises Ltd, vol. 7(4), pages 327-342.
    • Handle: RePEc:ids:ijatma:v:7:y:2007:i:4:p:327-342
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    Citations

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    Cited by:

    1. Hong, Junhee & Koo, Yoonmo & Jeong, Gicheol & Lee, Jongsu, 2012. "Ex-ante evaluation of profitability and government's subsidy policy on vehicle-to-grid system," Energy Policy, Elsevier, vol. 42(C), pages 95-104.
    2. Dongnyok Shim & Seung Wan Kim & Jörn Altmann & Yong Tae Yoon & Jin Gyo Kim, 2018. "Key Features of Electric Vehicle Diffusion and Its Impact on the Korean Power Market," Sustainability, MDPI, vol. 10(6), pages 1-18, June.
    3. Choi, Hyundo & Oh, Inha, 2010. "Analysis of product efficiency of hybrid vehicles and promotion policies," Energy Policy, Elsevier, vol. 38(5), pages 2262-2271, May.
    4. Aloisio S. Nascimento Filho & Rafael G. O. dos Santos & João Gabriel A. Calmon & Peterson A. Lobato & Marcelo A. Moret & Thiago B. Murari & Hugo Saba, 2022. "Induction of a Consumption Pattern for Ethanol and Gasoline in Brazil," Sustainability, MDPI, vol. 14(15), pages 1-11, July.
    5. Pacini, Henrique & Silveira, Semida, 2011. "Consumer choice between ethanol and gasoline: Lessons from Brazil and Sweden," Energy Policy, Elsevier, vol. 39(11), pages 6936-6942.
    6. Koo, Yoonmo & Kim, Chang Seob & Hong, Junhee & Choi, Ie-Jung & Lee, Jongsu, 2012. "Consumer preferences for automobile energy-efficiency grades," Energy Economics, Elsevier, vol. 34(2), pages 446-451.
    7. Madhusudhan Adhikari & Laxman Prasad Ghimire & Yeonbae Kim & Prakash Aryal & Sundar Bahadur Khadka, 2020. "Identification and Analysis of Barriers against Electric Vehicle Use," Sustainability, MDPI, vol. 12(12), pages 1-20, June.

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