Citation:

Nguyen Thi Van Anh, Truong Thi Tuyet, Lam Cao Kiet, Nguyen Phuong Trang, Ngo Thi Kim Yen. "Factors Affecting the Electric Motorbikes Demand of Gen Z in Vietnam" International Research Journal of Economics and Management Studies, Vol. 2, No. 3, pp. 394-410, 2023.

Abstract:

Conventional gasoline vehicles are the main cause of global climate change. Recognizing the serious and urgent problem, consumers have recently tended to switch to energy-powered vehicles, of which the most popular are electric motorbikes. The article studies the factors affecting the demand for electric motorbikes of the young generation Z in Vietnam. In order to assess the factors affecting the demand for electric motorbikes, the article uses qualitative research methods combined with quantitative research, the research team collects data through surveys and investigations. Collected data are aggregated and analyzed using Excel and Eviews 8 software. The research results show that the factors affecting the demand for electric motorbikes of young generation Z in Vietnam include: (1) The price of electric motorbikes; (2) Prices of substitute goods; (3) Prices of complementary goods; (4) Consumer’s income; (5) Consumer tastes. In which the price of electric motorbikes and the price of complementary goods have the opposite effect, the price of complementary goods, income and consumer tastes have a positive impact with the demand for electric motorbikes of the gen Z in Vietnam. In addition, the research team also considers the impact of factors on the demand for electric motorbikes through an econometric model. The results show that when the price of electric motorbikes increases by 1%, the demand decreases by 3.5%; when the price of substitute goods increases by 1%, demand increases by 1.7%; when the price of complementary goods increases by 1%, the demand decreases by 0.18%; When income increases by 1 million VND, respondents are willing to spend 540 thousand VND to buy electric motorbikes. Thereby, the research team proposes some policy implications to promote the demand for electric motorbikes of the young generation Z in Vietnam.

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Keywords:

Factors Affecting, Demand, Electric Motorbike, Electric Motorbikes Demand, Young Generation, Gen Z, Vietnam.