The Impact of Oil Prices on the Sales of New Energy Vehicles in China: Empirical Study of Different Vehicle Models

DOI

10.2991/aebmr.k.220405.046How to use a DOI?

Keywords

Oil price; new energy vehicle; sales; China

Abstract

This paper analyses the effect of Brent crude oil price on the sales of new energy vehicles based on the data of new energy vehicles (divided into pure electric vehicles and plug-in hybrid vehicles) in China from March 2016 to February 2021. This paper finds that there is a significant positive correlation between crude oil price and new energy vehicle sales, and there is a lag effect of crude oil price on new energy vehicle sales. At the same time, there is no strong asymmetric effect of rising and falling crude oil prices on the sales of new energy vehicles. Further study finds that there is also a significant positive correlation between domestic gasoline prices and new energy vehicle sales in China, and the impact of gasoline prices is greater than that of crude oil prices. The results of this paper have positive implications for exploring the market factors that affect the sales of new energy vehicles and for the future development of corporate strategies by new energy vehicle enterprises.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Chen Gong
PY  - 2022
DA  - 2022/04/29
TI  - The Impact of Oil Prices on the Sales of New Energy Vehicles in China: Empirical Study of Different Vehicle Models
BT  - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
PB  - Atlantis Press
SP  - 273
EP  - 280
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220405.046
DO  - 10.2991/aebmr.k.220405.046
ID  - Gong2022
ER  -