An analysis of vehicle purchase behavior of US households

• Activity Number: 181 - Contributed Poster Presentations: Government Statistics Section
• Type: Contributed
• Date/Time: Monday, July 31, 2017 : 10:30 AM to 12:20 PM
• Sponsor: Government Statistics Section
• Author(s): Jijia Wang* and Lynne Stokes and Hon Keung Tony Ng and Shuang (Nancy) Li and Linh Hoang Nghiem and Rongxiao Huang
• Companies: Southern Methodist University and Southern Methodist University and Southern Methodist University and Southern Methodist University and Southern Methodist University and Southern Methodist University
• Keywords: Consumer expenditure ; transportation expenditure ; spending pattern ; trend ; demographic ; ncome

Abstract

Vehicle purchase behavior of a household can be influenced by the household's traits (such as demographic characteristics, household income, education levels of household members, cultural factors) and other external factors (e.g., socio-economic, spatial and temporal factors). In this study, using the Consumer Expenditure Survey (CE) database and other data sources, we aim to identify the factors that markedly affect a household's decision to purchase vehicles and build a statistical model to predict the probability that a household will purchase a vehicle in a specific time period. The results developed here will be useful for vehicle dealers and manufacturers to identify their potential customers.