Article: Forecasting demand and consumer behaviour on the car market (case of Ukraine and Slovakia) Journal: International Journal of Services, Economics and Management (IJSEM) 2024 Vol.15 No.2 pp.158 - 177 Abstract: Based on the analysis of global indicators affecting consumer demand in the car market, this article develops a forecasting neuromodel that takes into account the influence of the studied factors on consumer behaviour when choosing a car. The following 12 parameters are defined as the main indicators of the forecasting model, such as world GDP; world GDP growth; global inflation; unemployment rate; growth of population spending on consumption; motorisation of the global market (number of cars per 1,000 people); average annual price of oil; number of population; length of paved roads; average annual price of a sold car; average fuel consumption of the car sold; and average annual cost of operation of the sold car. The test was carried out on the example of the car market of Ukraine and Slovakia. The results provided clear evidence that variables such as fuel costs, digitisation, model standardisation, environmental protection, changes in population, safety, and the use of lightweight materials for car production affect demand and consumer behaviour when purchasing a car. The research results can be used by car manufacturers, transport planners and researchers. Inderscience Publishers - linking academia, business and industry through research

Title: Forecasting demand and consumer behaviour on the car market (case of Ukraine and Slovakia)

Authors: Nataliia Parkhomenko; Peter Štarchoň; Lucia Vilčeková

Addresses: Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava 25, Slovak Republic ' Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava 25, Slovak Republic ' Comenius University in Bratislava, Odbojárov 10, 82005 Bratislava 25, Slovak Republic

Abstract: Based on the analysis of global indicators affecting consumer demand in the car market, this article develops a forecasting neuromodel that takes into account the influence of the studied factors on consumer behaviour when choosing a car. The following 12 parameters are defined as the main indicators of the forecasting model, such as world GDP; world GDP growth; global inflation; unemployment rate; growth of population spending on consumption; motorisation of the global market (number of cars per 1,000 people); average annual price of oil; number of population; length of paved roads; average annual price of a sold car; average fuel consumption of the car sold; and average annual cost of operation of the sold car. The test was carried out on the example of the car market of Ukraine and Slovakia. The results provided clear evidence that variables such as fuel costs, digitisation, model standardisation, environmental protection, changes in population, safety, and the use of lightweight materials for car production affect demand and consumer behaviour when purchasing a car. The research results can be used by car manufacturers, transport planners and researchers.

Keywords: demand; consumer behaviour; forecasting; car market; neuromodelling; indicators of sales; Ukraine; Slovakia.

DOI: 10.1504/IJSEM.2024.137214

International Journal of Services, Economics and Management, 2024 Vol.15 No.2, pp.158 - 177

Received: 31 Jan 2023
Accepted: 24 Jul 2023
Published online: 05 Mar 2024 *

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Title: Forecasting demand and consumer behaviour on the car market (case of Ukraine and Slovakia)

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