Factors Impacting New Energy Vehicles’ Purchase Intention in Chengdu, China

Abstract

Thailand, Indonesia, and Malaysia, among other ASEAN nations, have actively promoted the advancement and growth of electric vehicle technology. This has resulted in a significant influx of Chinese firms specializing in new energy vehicles, who are establishing factories and expanding their operations in the ASEAN area. The increase in China's new energy vehicle sales will have a significant impact on their development. Chengdu is one of the top three cities among the 43 cities in China that have more than 2 million automobiles. The purchase intention of new energy cars in Chengdu provides valuable insights for assessing the new energy vehicle industry in China. This study aims to explore the factors impacting the purchase intention of new energy vehicles in Chengdu, China. This article adopts quantitative methods and uses questionnaires as a tool to collect data from permanent adult residents in Chengdu. Analyzed by SPSS tools, a total of 500 valid questionnaires were examined using the approach of multiple linear regression. The study revealed that consumer innovativeness has a significant role in impacting purchase intention, both directly and indirectly. Additionally, perceived quality was found to have a highly positive effect on purchase intention. Attitudes and subjective norms have a beneficial impact on new energy vehicle purchase intentions. New energy vehicle production and sales managers should prioritize enhancing the quality of new energy vehicles and cultivating consumers' awareness of innovation. The implications of this research could benefit companies that develop and sell new energy vehicles.