Factors Impacting 18-30 Years old Consumers’ Purchase Intention of New Energy Vehicles in Sichuan, China
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Abstract
Purpose: This study aims to examine the impacting factors of consumers’ purchase intention of new energy vehicles in Sichuan, China. A conceptual framework incorporates six variables, including trust, attitudes, perceived risk, perceived behavioral control, perceived quality, and purchase intention. Research design, data, and methodology: The researchers applied quantitative research methods to construct and distribute questionnaires as a research tool. The population is consumers who own or are interested in purchasing new energy vehicles in Sichuan, China. The sample size is consumers who are 18-30 Years old (n=500). This study collects the data using judgmental, convenience, and snowball sampling. The primary objective of this investigation is to utilize confirmatory factor analysis (CFA) and structural equation modeling (SEM) as robust statistical methodologies for scrutinizing data integrity, assessing model precision, and evaluating the influence of pivotal variables. Results: Trust has a significant impact on attitudes. Purchase intention is significantly impacted by perceived risk and perceived quality but not trust, attitude, and perceived behavior control. Conclusions: In conclusion, this research enhances our understanding of age-related differences in consumer behavior and provides actionable insights for businesses and marketers.
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