Perception of Chinese car brands in the light of sustainability in Hungary - Using Machine learning methods

Abstract

THE AIM OF THE PAPER

Transportation, and road transportation in particular, is a major contributor to harmful (vagy pollutant) emissions, so mobility is a widely researched and topical issue. At present, it seems that the lowest emissions can be achieved through the electrification of mobility. Chinese car manufacturers have made significant progress in the development of electric powertrains, and their products are becoming increasingly popular in Europe, including in Hungary. The aim of this study is to assess the extent to which Hungarian consumers are familiar with the Chinese car brands available in Hungary, their level of affinity for these brands and to develop models that, based on the questions posed, can effectively estimate consumers' willingness to purchase such vehicles.

METHODOLOGY

The study aims to explore the opinions and attitudes of Hungarian consumers towards Chinese electric car brands through an online questionnaire with an arbitrary sampling method of 310 respondents and machine learning methods. The study uses programmed methods, SPSS, Mathlab software for analysis.

MOST IMPORTANT RESULTS

A large proportion of the sample is interested in driving, but only 22% shows a strong interest in electric cars. Respondents' answers suggest that they are interested in Chinese car brands. Of the 5 brands surveyed (BYD, MG, Dongfeng, Lync&Co, GWM, Skywell), BYD and MG are the ones that respondents are more familiar with, and thus the brand attitudes and willingness to buy are also stronger towards these brands. While we measured a medium value for MG in terms of willingness to buy, we also see slightly positive values for the BYD brand. The authors of this study developed several machine learning algorithms that can predict with high accuracy, both consumer affinity for the specific Chinese brands being examined and their willingness to purchase.

RECOMMENDATIONS

The study examines the awareness of Chinese electric car companies and their willingness to buy these products, and although it seems that such a change in consumer behaviour - at least in Hungary - is still to come, we recommend that Hungarian automotive players take environmental considerations into account when designing their portfolios and business policies, whether they want to defend themselves against new players from the Far East or support them. This approach could broaden the range of electric car brands available in our country, which could lead to a change in the growth of electric cars.