Analysis of the Decision to Lease an Electric Vehicle and the Impact of Incentives on the Electric Vehicle Lease Market

When financing a plug-in electric vehicle (PEV) consumers have the option to either purchase the car, or lease it for a fixed period. The relationship between the finance method, which PEV is ultimately selected, the impact of incentives on the purchase/lease decision, and the impact of leasing on fleet turnover has yet to be explored for the PEV market. This project will utilize survey data from 26,000 PEV drivers in CA who were surveyed in 2015-2020. Using a choice model, the project will identify behavioral differences between those who purchase versus lease, discuss how the characteristics of a vehicle technology influence the decision, and will investigate the impact of incentives on the decision to lease a PEV. The project will also explore how the vehicle purchase/lease behavior is impacting PEV penetration into the mass market as leased vehicles tend to enter the used vehicle market sooner than those purchased. The results from the project will allow automakers to evaluate the vehicle and buyer characteristics that influence their financing decision, and will allow policymakers to evaluate the effectiveness of monetary incentives for PEVs on the adoption decision, received at different points of time under the two financing possibilities.

Language

  • English

Project

  • Status: Active
  • Funding: $120019
  • Contract Numbers:

    DOT 69A3551747114

  • Sponsor Organizations:

    Office of the Assistant Secretary for Research and Technology

    University Transportation Centers Program
    Department of Transportation
    Washington, DC  United States  20590

    National Center for Sustainable Transportation

    University of California, Davis
    Davis, CA  United States 
  • Managing Organizations:

    National Center for Sustainable Transportation

    University of California, Davis
    Davis, CA  United States 

    University of California, Davis

    1 Shields Ave
    Davis, California  United States  95616
  • Project Managers:

    Iacobucci, Lauren

  • Performing Organizations:

    National Center for Sustainable Transportation

    University of California, Davis
    Davis, CA  United States 

    University of California, Davis

    1 Shields Ave
    Davis, California  United States  95616
  • Principal Investigators:

    Hardman, Scott

    Chakraborty, Debapriya

    Bunch, David

  • Start Date: 20211001
  • Expected Completion Date: 20220930
  • Actual Completion Date: 0
  • USDOT Program: University Transportation Centers

Subject/Index Terms

Filing Info

  • Accession Number: 01776645
  • Record Type: Research project
  • Source Agency: National Center for Sustainable Transportation
  • Contract Numbers: DOT 69A3551747114
  • Files: UTC, RIP
  • Created Date: Jul 15 2021 4:10PM