Fuel efficiency effect on car buying choice

The results of a research to study the fuel efficiency effect in acquiring a new vehicle are presented. The methodology is based on applying a stated preference survey in the context of a choice experiment with two unlabeled alternatives, which are characterized by the car cost and fuel efficiency.Based on the data collected, a Multinomial Logit model was estimated, which allowed to study different choice scenarios. On average, it was found that individuals are willing to pay up to 1.020.000 Colombian pesos by a new vehicle which improves fuel efficiency at 1 kilometer/gallon. This value may be useful as reference for the automotive industry in the effort to produce higher performance vehicles.

• Fecha de publicación: 2016
• Institución: Universidad Pedagógica y Tecnológica de Colombia
• Repositorio: RiUPTC: Repositorio Institucional UPTC
• Idioma: spa
• OAI Identifier: oai:repositorio.uptc.edu.co:001/14142
• Acceso en línea: https://revistas.uptc.edu.co/index.php/ingenieria/article/view/4629; https://repositorio.uptc.edu.co/handle/001/14142
• Palabra clave: automotive Market; fuel Efficiency; stated-preference surveys; willingness to pay; disposición a pagar; encuestas de preferencias declaradas; mercado automotor; rendimiento del combustible
• License: http://purl.org/coar/access_right/c_abf54