Adoption of new energy vehicles under subsidy policies: Unit subsidies, sales incentives and product differentiation
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F713.36

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    Abstract:

    Based on the subsidy policies to increase the adoption of new energy vehicles and upgrade the overall industry, dynamic game models involving the government, manufacturers, retailers and consumers are established to analyze the impacts of policies involving unit subsidies, sales incentives and differentiated unit subsidies. Three specific policy characteristics are introduced into our models, including both quantity target and high-quality development of the industry and subsidy budget constraints. The results show that given the positive subsidy performance, unit subsidies to manufacturers and consumers can increase the market demand for new energy vehicles and the profit of manufacturers and retailers. Aditional sales incentives can improve the market outcome of unit subsidies and increase the performance of government subsidies. The differentiated unit subsidies can reduce the demand for low-quality vehicles and increase the demand for high-quality vehicles without reducing the total quantity demanded, thereby promoting the upgrading of the industry. The optimal value of unit subsidy is mainly determined by the quantity target set by the government and the unit cost of the manufacturer. The higher the quantity target and unit cost, the higher the unit subsidy, but the lower the government subsidy performance.

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  • Online: October 25,2021
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