Relationship Between Vehicle Price and its Safety Ratings

Abstract

The objective of the paper is to determine the relationship between a vehicle price and its safety ratings in the Czech Republic for vehicles sold and newly registered in the year 2022. The data collection was performed using content analysis. It was found that in 2022, Škoda Auto vehicles accounted for more than 35 % of all newly registered vehicles in the Czech Republic. The evaluation of vehicle safety was performed on the basis of results published on the EuroNCAP server. The findings were used as a basis for performing cluster analysis and correlation analysis of the data obtained. The analysis shows that even though safety plays an important role in the automotive industry, vehicle price is not a decisive factor in achieving higher safety ratings. The findings of this paper have a significant impact on consumers and automotive, showing that the price difference between vehicles does not necessarily correlate with different levels of safety. The limitation of this paper is its focus on the Czech Republic only, which may influence the generalization of the results to other markets.