Comparing car preference and ownership: predictions based on human values, product attributes and socio-demographic variables

Abstract

Some consumers can own a particular vehicle while preferring another type of vehicle. This might be due to differences in attributes between vehicle types, as well as to differences between socio-demographic or motivational human values associated with the use of this product. The identification of what are the predictors of preference and ownership can shed light on what are the most appropriate variables to be used in the strategy of automotive market segmentation. The purpose of this empirical research study was to compare the influence of human values, the attributes of the car and socio-demographic variables on preference and ownership by car type. The sample consisted of 209 car users, reflecting a 0.87 power in this study. Data were collected using the survey method and logistic regressions for each type of car were conducted. The results showed that there are different motivations that predict preference for type of car ownership and that vehicle attributes are stronger predictors than the motivations or socio-demographic variables, regarding both car preference and ownership.