Analysis of Passenger Car Preference Based on Panel Data

Based on the panel data of passenger car sales in China from 2009 to 2019, combined with vehicle characteristics, the Logit model is constructed to analyze the response of vehicle characteristics evolution to consumer demand, and to compare the consumer preferences of passenger cars in China and Switzerland. The results show that the market share of passenger cars with higher engine fuel efficiency and power is higher. Heavy vehicles are more favored by Chinese consumers than light vehicles. The marginal value of fuel efficiency is smaller in the high-power vehicle segment, that is, consumers who are most likely to produce more pollution emissions are less sensitive to vehicle fuel efficiency. And they are still in the stage of the rapid popularization of passenger cars. There are obvious differences in consumer preferences between China and Switzerland, which is in the stage of multiple ownership (more than 250 vehicles per thousand people). Chinese consumers' preference for fuel-efficient, high-power, and heavy-duty passenger cars is gradually deepening, while Swiss consumers' preference for fuel-efficient, high-power, and light-duty vehicles is gradually decreasing. Copyright © 2021 by Science Press.