FUEL CONSUMPTION: A MAJOR FACTOR INFLUENCING SALES OF NEW PERSONAL VEHICLES. EVIDENCE FROM ROMANIAN DATA

Abstract

The purpose of this paper is to demonstrate empirically the validity of our supposition: the fuel consumption is currently the most important factor that influences sales of new personal vehicles. Factors that characterize an economical vehicle make 60 per cent of new personal vehicle buying decisions and the fuel consumption is the most important of these factors. The linear model for estimating the number of new personal vehicle registrations has good fit to the data.

Keywords

• consumer preferences
• factors
• fuel consumption
• new personal vehicle
• statistical modeling