Determinants of Electric Car Sales in Europe

Abstract

This article deals with determining statistically significant factors affecting the sale of battery electric vehicles in different European countries. Typical representative countries were selected on the basis of cluster analysis. The input data for multiple regression models and vector autoregressive models include data for the last decade and thus essentially cover the complete history of the electric car market. Attention is paid not only to the European leader but also to countries with a lower share of electric cars. The results of this study show the existence of a common factor in the countries with different development trends in the battery electric vehicle market. However, differences among individual countries are generally so significant that the identified factors vary from country to country.

Keywords

• battery electric vehicle
• europe
• cluster analysis
• significant factors