Project Proposal On Purchasing A New Car Assignment Sample

Investigating the Viability & Benefits of Electric Vehicles in Modern Car Purchasing Decisions

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Introduction Of Project Proposal On Purchasing A New Car Assignment

Electric vehicles are the demand of the new age and when taking the decision regarding purchasing a new car it is the highly- recommended option. This study will portray the purchase decision of a car while considering the relevant options of cost, reliability, and practicality. The car emission and relevant factors of power of options will be discussed in this study. Relevant future development in this field will be emphasized in this study based on several associative factors including effective performance and longevity. The interpretation of relevant perceptions will be discussed while managing a significant solar-charged approach. The research questions, aims, objectives, limitations, methodology, and effectiveness of the research methodologies will be portrayed in this study.

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Research Questions

  1. Which car is more sustainable among petrol, diesel, and electric version?
  2. Which type of car has more negative impact in terms of exhausting emissions?
  3. Which type of cars has varieties of power options?
  4. What is the expected future development in the field of automobile sector?

Research Aim and Objectives

Aim

This study aims to select the perfect purchase decision for a car and to find out other facilities and beneficial segments of purchasing an Electric Vehicle.

Objectives

  • To find more sustainable car among petrol, diesel, and electric version
  • To investigate negative impacts of different versions of cars in terms of exhausting emissions
  • To investigate cars having varieties of power options
  • To determine the expected future development in the field of automobile sector

Limitations of the study

The issue associated with taking the purchasing decision while considering the financial stress is the major limitation regarding taking the purchase decision. As stated by Zhang et al. (2022), the price of electric vehicles ranges from £ 22,225 up to £ 157,160. The major limitation of this study is the lack of previous research materials and relevant information. On the other hand, the budget constraints, insufficient statistical sample, and time constraints were are other issues. Besides this, the consideration of secondary data includes certain gap to conduct the consequences with successful intervention. The lack of sufficient research materials of previous study and inappropriate statistical data in online websites creates limitation to conclude the deliverable information. Sometimes the price can also exceed up to £ 50,000. The effective problem-solving approach will be discussed in this study regarding the qualitative and quantitative decision-making approaches. Besides this, the maintenance of effective communication will be referred to with varying ranges and proper media management. The efficiency of the car will be described in this study. The price becomes the primary factor and has been noticed to be enhanced in the cases of managing prices in “solar-charged Lightyear”.

Literature Review

The quantitative skills associated with the managerial context of evolving relevant research are required regarding associating the purchasing decision of an Electric Vehicle. The extrapolation and interpretation of possible outcomes will be described for managing better identification of the involved characteristics. As per an article authored by Sorlei et al. (2021), the maintenance of specific technical support and cognitive approach is required for determining the effective utilization of “Communication and Information Technology (CIT)”. While taking the purchase decision it is imperative to secure the management of planning, self-evaluation, and developing an appetite for considering adaptive and collaborating concerns. These will be envisioned for adjusting the knowledge required for the development of a beneficial comparison among different cars.

Relevant Market of Electric Vehicles

Figure 1: Relevant Market of Electric Vehicles

(Source: Qiao et al. 2019)

The comparison differs based on the performance of the cars as well as on the mileage and other effectivity. It has been considered that the performance of the “Rolls-Royce Spectre” is elite however, the price of the same is around £350,000 (Qiao et al. 2019). The association of specific behavioral patterns will be included in describing the literature review as the entire study depends on the rationale provided in this section. The effectiveness of this study will provide a wide range of knowledge to contribute towards reducing the price and enhancing efficiency by involving more purchasing decisions towards considering EVs in the future.

Research Methodology

The study will consider a secondary data collection method as this study will be approached while considering significant information. The maintenance of cognitive support comes from contemporary knowledge and significant information, and, that is the reason for involving online articles, online journals, relevant online websites, company websites of EVs, and contemporary newspapers. The interpersonal skills for developing the research depend on the negotiating skills in managing the inclusion and exclusion of the acquired information (Poorfakhraei et al. 2021). The same will be reflected based on the perception of relevant knowledge management from the end of IT sectors as cloud computing and relevant concerns are needed to be involved for better performance of the EVs.

Data Analysis

 Trends of Electric Vehicles

Figure 2: Trends of Electric Vehicles

(Source: Statista.com, 2023)

The business of EVs runs on the effectivity and inclination towards sustainability and for this the management of issues and considering the projects are required. Descriptive data analysis method will be involved in this study as it identifies the preferences of customers. Apart from that, this data analysis method is flexible and can consider contemporary changes as and when required. It also helps to strategize “data-driven assumptions” and helps to launch the products accordingly. The development of in-depth clarification of business perceptions and its alignment of progress in the near future will be discussed. As per the statement of Husain et al. (2021), the association of significant divergence regarding the application of solar charges must reduce the cost and these factors must be approached in front of the Government for arranging necessary funding. This will ensure better productivity and the reputation of the EVs and the audience will be approached with significant interest.

Research Findings

The findings of this research will portray the necessary information that is required for taking the purchase decision regarding the brand of Electric Vehicles. The maintenance of a proper approach that will help to reduce the pricing strategy while accomplishing competitive advantages will be covered in this stage. The maintenance of specific public awareness factors that are relatable to the purchase of EVs is required to be accomplished with the necessary approach (Hou et al. 2019). The association of beneficial justification of considering the specific decision of purchase will be involved in this study.

Effectiveness of research methods applied

The research method that is the most essential perception of this study will involve a significant perception of comparing the brands of different EVs as per their performance, cost, and other productivity while contributing towards sustainability. The interpretivism research philosophy will be considered due to as it covers a vast area for research and meets the conclusion based on experiences and valid sources. The Qualitative research strategy will be involved as it addresses the research questions as well as helps to analyze the research context and background. The Descriptive research design will be included as it considers the distributions of relevant variables as well as involves causal hypothesis. These are the major considerations for opting for an EV and that is the reason for considering the in-depth cognitive support of considering this study (Das et al. 2020). Besides this, the speed, effectiveness, and relativeness with the weather, Charge Capacity, battery age, and “Environmental Protection Agency (EPA)” will be involved in the analysis of the research method.

Recommendations

The association of proper determination regarding the betterment of managing the significance of pricing stability will be focused on in the recommendation. Suggestive measures regarding ensuring and encouraging sustainability from several perceptions will be analyzed (Zhang et al. 2020). Specific alternative methods of EVs will be discussed in this study for ensuring the availability and accessibility of sustainable vehicles by all groups of individuals. The sustainable measures based on different perceptions will be investigated and required steps must be included for better recognition of deliverables for the betterment of a significant futuristic approach of EVs.

Conclusion

This study reflects the determination to taking the purchase decision regarding the variances among diesel cars, petrol cars, or electric vehicles. The electric vehicle has been the emphasis in this study based on the concern of sustainability and for the betterment of future scope with managing price. Specific determinations based on the significance of pricing decisions, emissions, management of power options, determination of fossil fuel availability, and taxation policy have been included in this study. Relevant limitations of this study will be referred to in the final study along with the research methodology to deliver engaged research based on the literature review. The analysis of the results will be clarified based on the strengths and weaknesses of utilizing EVs and certain recommendations will be provided to mitigate the gaps. The entire study has been designed for furnishing the purchasing decision of EVs for aligning with sustainability in the progress of future development.

References

Das, H.S., Rahman, M.M., Li, S. and Tan, C.W., 2020. Electric vehicles standards, charging infrastructure, and impact on grid integration: A technological review. Renewable and Sustainable Energy Reviews, 120, p.109618. Available at: https://d1wqtxts1xzle7.cloudfront.net/62097718/1-s2.0-S1364032119308251-main_Final20200214-102135-14eb41y-libre.pdf?1581682131=&response-content-disposition=inline%3B+filename%3DElectric_vehicles_standards_charging_inf.pdf&Expires=1678304674&Signature=RTpmI9-5uGMLEBNwDAcQTUs3d2mXSePVzZq3fKNcsGbRRgQcbtPbJOkZPjMcKMtk9jP9MhuA7Tnbj37k~1gV81oLB79zPzN4m-KrOLuI0MHZcnXLaDAy8bImTWHWwrWbLQfkLk9gamhzyiF0SwwwchenILrIkp7SLFgOsbjkOVAHcmk~OVUjWJk0-oc53DnDUoNjad-Wm9HJQs3s702TOmU1Lx62u8cajtWVIHH9CY2YdJltmLDm5UrzBwuplHKre0Y~GABgQWPPhQmDDeNJiyeH53Zh4UADzOCAn0~hWZMLmMWaexplL8FfZYi7blKR4UtFT3-gLK5MzRl~AulCdA__&Key-Pair-Id=APKAJLOHF5GGSLRBV4ZA (Accessed on: 06.03.23)

Hou, X., Wang, J., Huang, T., Wang, T. and Wang, P., 2019. Smart home energy management optimization method considering energy storage and electric vehicle. IEEE access, 7, pp.144010-144020. Available at: https://ieeexplore.ieee.org/iel7/6287639/8600701/08854204.pdf (Accessed on: 06.03.23)

Husain, I., Ozpineci, B., Islam, M.S., Gurpinar, E., Su, G.J., Yu, W., Chowdhury, S., Xue, L., Rahman, D. and Sahu, R., 2021. Electric drive technology trends, challenges, and opportunities for future electric vehicles. Proceedings of the IEEE, 109(6), pp.1039-1059. Available at: https://www.osti.gov/pages/servlets/purl/1763457 (Accessed on: 06.03.23)

Poorfakhraei, A., Narimani, M. and Emadi, A., 2021. A review of multilevel inverter topologies in electric vehicles: Current status and future trends. IEEE Open Journal of Power Electronics, 2, pp.155-170. Available at: https://ieeexplore.ieee.org/iel7/8782709/9343742/09369045.pdf (Accessed on: 06.03.23)

Qiao, Q., Zhao, F., Liu, Z. and Hao, H., 2019. Electric vehicle recycling in China: Economic and environmental benefits. Resources, Conservation and Recycling, 140, pp.45-53. Available at: http://tasri.org/upLoad/down/month_1907/201907281019099543.pdf (Accessed on: 06.03.23)

Sorlei, I.S., Bizon, N., Thounthong, P., Varlam, M., Carcadea, E., Culcer, M., Iliescu, M. and Raceanu, M., 2021. Fuel cell electric vehicles—A brief review of current topologies and energy management strategies. Energies, 14(1), p.252. Available at: https://www.mdpi.com/1996-1073/14/1/252/pdf (Accessed on: 06.03.23)

Zhang, F., Wang, L., Coskun, S., Pang, H., Cui, Y. and Xi, J., 2020. Energy management strategies for hybrid electric vehicles: Review, classification, comparison, and outlook. Energies, 13(13), p.3352. Available at: https://www.mdpi.com/1996-1073/13/13/3352/pdf (Accessed on: 06.03.23)

Zhang, X., Li, Z., Luo, L., Fan, Y. and Du, Z., 2022. A review on thermal management of lithium-ion batteries for electric vehicles. Energy, 238, p.121652. Available at: https://www.sciencedirect.com/science/article/am/pii/S0360544221019009 (Accessed on: 06.03.23)

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