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2025-06-01 05:46 本頁(yè)面
【正文】 標(biāo)題： Giving Green to Get Green: Incentives and Consumer Adoption of Hybrid Vehicle Technology 原文： Abstract： Federal, state and local governments use a variety of incentives to induce consumer adoption of hybridelectric vehicles. We study the relative efficacy of state sales tax waivers, ine tax credits and nontax incentives and find that the type of tax incentive offered is as important as the value of the tax incentive. Conditional on value, we find that sales tax waivers are associated a sevenfold greater increase in hybrid sales than ine tax credits. In addition, we estimate the extent to which consumer adoption of hybridelectric vehicles (HEV) in the United States from 20202020 can be attributed to government incentives, changing gasoline prices, or consumer preferences for environmental quality or energy security. After controlling for model specific state and time trends, we find that rising gasoline prices are associated with higher hybrid sales, although the effect operates entirely through sales of the hybrid models with the highest fuel economy. In total, we find that tax incentives, rising gasoline prices and social preferences are associated with 6, 27 and 36 percent of high economy hybrid sales from 20202020. Data and Methodology We use quarterly statelevel data on sales of each hybrid model to distinguish the impact of three factors which potentially speed consumer adoption of hybrid technology: (1) government incentives, including single occupancy HOV lane access and ine or sales tax incentives (2) changes in gasoline prices (3) changes in consumer travel intensity or preferences for environmentalism or national security. Our study period runs from Q1 2020 to Q4 2020 during which automakers introduced eleven hybrid models. The date at which domestic sales first appear in the JD Power data are: Honda Insight (2020Q1), Toyota Prius (2020Q3), Honda Civic (2020Q1), Honda Accord (2020Q4), Ford Escape (2020Q3), Lexus RX400h (2020Q1), Toyota Highlander (2020Q2), Mercury Mariner (2020Q3), Lexus GS450h (2020Q2), Toyota Camry (2020Q2) and Saturn VUE (2020Q4). To allow for each model to have its own time trend and different attractiveness to each state’s population, we include both state*model and time*model fixed effects, and estimate the model using withinstate*model variation in trend of sales. We purchased our data on hybrid sales from JD Power and Associates. The sales data is based on their proprietary Power Information Network data. The Power Information Network (PIN) collects realtime transaction level data from approximately 6,000 dealers. For our analysis, JD Power and Associates aggregated consumer purchases (as opposed to fleet purchases) in the PIN transaction data up to quarterly quantities for each model at the state level. Based on actual purchases, the transaction data provides more accurate timing information than vehicle registration data. For our analysis, JD Power limited the sample to consumer purchases. This excludes private and government fleet purchases which at best are unrelated to consumer preferences and at worst are correlated with state government incentives. The exclusion of these sales ensures that we will not misattribute government purchases to state consumer incentives. We classify models as high fueleconomy hybrids if the EPArated fuel economy is 50 percent greater than other vehicles in it
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