Researchers at the University of Córdoba have examined the motivations behind buying an electric vehicle in Spain, finding that people’s concern for the environment has a bigger impact than fears about price or performance in their decision.
Many studies have explored the factors that influence EV adoption but few have looked at how much people are willing to pay, the risks they associate with buying an EV, or how different personal factors affect their decision to buy one.
Javier Cabeza, a researcher at the UCO said: ‘We thought it was a good idea to combine different solid theoretical frameworks to study not only the intention to buy an electric car, but also to include other types of variables that were not being studied at the time.
‘[willingness to pay] is a variable that is even closer to real behavior, because when you state that you are willing to pay an extra amount for a certain product, you are getting a better idea of what the consumer is going to really do.’
The study – titled ‘Rational and normative determinants in electric vehicle adoption: Willingness to pay and moderating variables‘ – used a model that combines two well-known psychological theories – the Theory of Planned Behavior (TPB) and the Norm Activation Model (NAM) – to examine what influences people’s intention to buy EVs. The researchers collected data from a survey of 1,241 regular drivers in Spain and analysed the results using a method called partial least squares structural equation modeling (PLS-SEM).
The findings showed that being aware of environmental issues and the consequences of one’s actions, along with social pressure, can strengthen a person’s personal values. These values, in turn, influence their intention to buy an EV and, even more strongly, their willingness to pay for one.
The study also found that concerns about performance and financial risks do affect purchase decisions, but less than expected.
Researcher Sandra Sánchez added: ‘The most striking thing is that the main variable that influences the intention to buy is having a positive attitude towards the purchase of electric vehicles. What most influences this attitude is awareness of the consequences of not opting for this type of transportation. Rationality has less influence, and environmental awareness is more important.’
The full research can be read here.
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