Market dynamics of low-carbon vehicles
Low-carbon vehicles can fundamentally change consumer buying behaviour. Element Energy is a recognised leader in predicting the market dynamics of low-carbon vehicles. The information we provide helps our clients focus their product development resources and de-risk their market entry strategies.
Consumer behaviour relating to low-carbon vehicles is distinct from the mass market. Successful market entry relies heavily on early adopters providing early revenues to build critical mass. Our behaviour modelling helps car manufacturers understand these customer groups better, defining the product features they want and the price they are willing to pay.
Uniquely, we combine technical know-how with cutting edge quantitative choice modelling (QCM) to predict consumer purchase behaviour for low-carbon vehicles. We remain the market leaders in combining these disciplines, and have worked with several OEMs.
Commonly, we use a three-stage process to predict consumer behaviour:
- We work with the client to identify the technical characteristics of a new vehicle which differentiate it from the mass market and other low-carbon competitors.
- From this information we design the quantitative surveys to test these characteristics. We work with leading academics in QCM and specialised survey companies to make sure the client benefits from cutting-edge practices.
- We analyse the results and develop models of consumer behaviour and market dynamics that can be used by the client to test varying commercial scenarios.
Our understanding of the delineation between low-carbon vehicles and the mass market is unique, and vital to our clients’ success in bringing low-carbon vehicles to the mass market.