A multivariate analysis of hybrid and electric vehicles sales in Mexico

This paper presents a multivariate analysis considering economic and ecological factors that are associated with the acquisition of low emission vehicles in Mexico. We analyzed the data available in the Mexican context from its 32 states and use econometric analyses with linear regression models to determine the significant factors associated with the sales of hybrid and electric vehicles. We found that the sales of these vehicles are positively correlated with the GDP per capita, the cost of consumed electricity, the price of gasoline and an indicator variable defined for sustainable practices. This indicator variable is calculated using data on the certificates issued by the government environmental office, energy intensity, adequate disposal of waste and waste separation. Based on these results, we infer that adherence to sustainable practices has a positive correlation with the acquisition of low emission vehicles in Mexico. However, for the buyers, the affordability of these vehicles is more important than their energy efficiency. In addition, we found that the most industrialized states are adopting hybrid and electric vehicles at higher rates than states whose economy depends on commerce and tourism.

Automated summary

This paper presents a multivariate analysis of economic and ecological factors associated with the acquisition of low emission vehicles in Mexico. The study found that GDP per capita, cost of consumed electricity, gasoline price, and an indicator for sustainable practices are positively correlated with the sales of hybrid and electric vehicles. Affordability is more important for buyers than energy efficiency, and industrialized states are adopting these vehicles at a higher rate than states reliant on commerce and tourism.