Perceived Value and Customer Adoption of Electric and Hybrid Vehicles

Abstract

Internal combustion engine vehicles are a key source contributing to urban air pollution. In order to reduce noxious emissions and reliance on fossil fuels, governments and the automobile industry have started promoting the adoption of electro mobility (EM) options over the last few years, albeit with limited success in terms of market penetration. This study aimed to improve the current understanding of factors influencing customers’ intentions to adopt EM options. Building on the theories of perceived value and reasoned action, this study posits a behavioural model based on four dimensions of perceived value and two technical performance characteristics of EM vehicles with regards to their influence on customer attitudes towards EM options, as a precursor to purchase. The model was tested empirically using structural equation modelling analysis using data gathered through an online survey of 404 consumers in Spain. The results of this study showed that emotional issues, product price, vehicle acceleration and low engine noise levels have a considerable impact on consumer attitudes, which, in turn, have a positive impact on purchase intentions of EM vehicles. However, quality and social value were not found to have a positive influence on consumer attitudes. On the basis of this research it is recommended that, in order to promote the use of EM vehicles, governments and manufacturers alike should make better use of emotional issues in their social and product marketing strategies, as well as focusing on specific product attributes such as performance (e.g., vehicle acceleration and low engine noise levels) and value for money in terms of energy consumption.

Factors Influencing the Purchase Intention of Autonomous Cars

“…In a study of a comparable sector, green luxury cars, results similarly showed that social influence, showing as status motivation, is an important factor of purchasing intention [52]. Similar findings were also produced by Higueras-Castillo, Molinillo, Coca-Stefaniak & Liebana-Cabanillas [53] whose research pointed out that car performance greatly impacts purchasing intention for electric vehicles, but they did not confirm our findings about the impact of social influence. However, these comparisons with similar research cannot be directly compared to our research since the main aspect of autonomous cars lies in its self-driving ability and not in its luxury or propulsion.…”

Environmental Effects of Electromobility in a Sustainable Urban Public Transport

“…An application of electrical power as an alternative power source for vehicles allows for the development of the sustainable mobility concept. This concept aims at reducing the number of combustion engine vehicles, particularly in urban areas, and thus reducing their negative influence on the environment and human health [74].…”

Potential Early Adopters of Hybrid and Electric Vehicles in Spain—Towards a Customer Profile

“…In addition to this, several studies have found that price is a barrier to many potential adopters [25,73,74]. Similarly, perceived value for money has also been found to have a significant positive effect on consumers' attitude towards EVs [20], whilst earlier research has shown that financial incentives [31] or a significant reduction in market prices would encourage the adoption of these vehicles by potential consumers [75][76][77]. Moreover, Tran et al [78] found that the most influential factor among early adopters of EVs is the financial benefit.…”

“…Common examples of the first category include age, gender, income, education level [16,17], social influence, environmental concern, and innovativeness [18,19]. Attributes used in earlier research studies to analyse consumer behaviour related to the adoption of EVs include price [20], driving range [21], availability of charging points [22] and vehicle acceleration [23].…”