From Trends to Drivers: Key Factors Propelling Electric Vehicle Sales

Abstract

With the rapid advancement of human economic levels and modern civilization, the automobile manufacturing industry is increasingly confronted with challenges related to energy scarcity and environmental pollution. Low carbon emissions and energy savings have become the main focus of automotive development. Under the influence of government incentives, the sales of household electric vehicles (EVs) have increased significantly, although they still represent a small share of the overall car market. To examine the factors influencing consumer purchases of household EVs, this report integrates both qualitative and quantitative analyses, controlling for single variables. Using linear regression, an empirical analysis was conducted on 18 BYD models with varying ranges and prices. The results indicate a strong positive correlation between driving range, selling price, and EV sales. Looking ahead, the development of new energy vehicles should prioritize longer ranges, high-quality features, and cost-effective performance.