Key Factors Influencing the Decision to Buy an Electric Vehicle in Emerging Markets: A Comparison Between University Students’ Behavior in Italy and Argentina

The transition from Internal Combustion Engine Vehicles (ICEVs) to electric vehicles (EVs) is a tricky issue, but particularly challenging in those markets that are characterized by high ICEVS ownership rates and that may be identified as emerging markets due to the small diffusion of the technology and of the related infrastructures. This study delves into modeling the willingness to buy an EV by young adults within the emerging Italian market, and to draw a comparison with the findings of a previous study carried out on the Argentinian market. To this aim a stated preferences survey was carried out at the University of Salerno (Italy), and then compared with the same survey designed and carried out at the University of Cordoba (Argentina). The Random Utility Paradigm was employed to model the preferences of the respondents, by focusing on the influence of instrumental attributes and psycho-attitudinal factors through a Mixed Binomial Logit formulation and Hybrid Choice model with Latent variables, respectively. The findings suggest that attitudes and perceptions play a substantial and similar role in emerging markets, with only slight differences across the two markets.