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Econometric analysis of consumer choice in the car market

Author

Listed:
  • Gorshkova Marina

    (Department of Economics, Lomonosov Moscow State University)

  • Mirzoyan Ashot

    (Department of Economics, Lomonosov Moscow State University)

Abstract

The car market, like many others, needs a detailed study from the consumer's choice and preferences,because this aspect allows you to get to know the buyer better,understand what is important to him, and in which direction the industry as a whole is moving. The purpose of this work is to identify the determinants that determine the features of demand in the current economic situation in the personal transport market in Russia. The following analysis tools are used: clustering by the k means method, factor analysis by the principal components method,ordered logistic regression. Using the example of the Russian segment of the automotive market, 3 groups were identified and their preferences described, as well as the main factors influencing consumer choice among motorists and those who plan to buy personal transport were identified.

Suggested Citation

  • Gorshkova Marina & Mirzoyan Ashot, 2022. "Econometric analysis of consumer choice in the car market," Working Papers 0046, Moscow State University, Faculty of Economics.
    • Handle: RePEc:upa:wpaper:0046
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    More about this item

    Keywords

    Car market; consumer behavior; consumer choice; clustering; principal component method; logistic regression;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

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