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A Study on People's willingness to buy Hybrid Cars : Pros and Cons - Dissertation Example

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A STUDY OF PEOPLE’S WILLINGNESS TO BUY HYBRID CARS : PROS AND CONS Abstract This research work has been designed to study the willingness of people to buy hybrid cars. The research explores the literature related to the pros and cons of hybrid cars, the intrinsic motives and extrinsic motives that drive the buying pattern of these cars and the efforts of government and environmental organizations in promoting the purchase of hybrid cars…
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A Study on Peoples willingness to buy Hybrid Cars : Pros and Cons
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"A Study on People's willingness to buy Hybrid Cars : Pros and Cons"

Download file to see previous pages The data collected by qualitative method has been analyzed by SWOT analysis and the data of quantitative method has been analyzed by statistical methods. Based on the findings, it has been shown that hybrid cars have many advantages like fuel efficiency, reduced emissions, less maintenance, tax incentives and improved status image. These factors drive the consumers to buy them. Hence it is seen that most of the people are willing to buy hybrid cars as it satisfies their intrinsic motives like strong thirst to save environment and extrinsic motives like status image in society. Also, few recommendations have been included that could improve the design of hybrid cars for space and comfort, improvement in battery technology, effective marketing to improve awareness among people about functions and benefits of new hybrid technology. Chapter 1 – Introduction This chapter presents the introduction about the research topic, the background in which the research is conducted, the main problem statement, the aim and objectives. Followed by these the main research question and the research hypotheses are discussed along with the method of research implementation and scope of the research. 1.1. Research Background The increased consciousness about global warming and the proactive thinking of the present day environmentalists have led to the growing trend of hybrid vehicles and all electric vehicles that tend to reduce fuel consumption and save the planet. This is a reflection of the change in the apathetic attitude of present generation towards energy resources. This positive change has led to innovation of different types of eco-friendly Hybrid Electric Vehicles (HEVs) and Plugged Hybrid Electric Vehicles (PHEVs). These innovative cars are considered as the cars of the millennium. Today many people tend to buy hybrid cars and it has been quotes that the sale of hybrid cars in America has raised to 313%, as the sale is 347102 cars in 2007 as compared to a sale of 84199 cars in 2001 (Frank J. DiMauro and Richard W. Berman, 2008). For the consumer who is sensitive to increasing oil prices, these eco-friendly cars appear as a boon to save their money in terms of fuel along with less damage to the environment. Hybrid cars are based on renewable energy, where the car uses two different sources of energy and reduces the use of gasoline. The success and future of these cars depends on the willingness of the consumers to change from the proven combustion engine technology to hybrid technology. The reduced oil or gas fuel usage reduces carbon dioxide emissions that lead to global warming. The hybrid cars technology sparked from the Toyota Motor Corporation in early 1992. The fundamental goal in the design of such cars was good mileage like conventional cars at the same time eco-friendly. This initiative resulted in the development of the Toyota Prius in 1997 that was first introduced in Japan and later in the US during 2000. Inspired by the innovation in the design, consumers grabbed around 52000 first generation hybrid cars in the very first year of its launch. Itazaki (2007) says that this first generation Toyota Prius received excellence awards for its design and its eco-sensitivity. These hybrid cars use both gasoline and electric motors to generate the required propulsion power. ...Download file to see next pagesRead More
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