The Impact of Brand Confidence on the Purchase Intention of Chinese Brand-new Energy Electric Vehicles
Year: 2024
Type: article
Study design: Observational Study
Abstract: The current Chinese new energy vehicle industry is experiencing a phase of rapid development, characterized by significant sales growth and increased market penetration. Initially, a synergistic relationship between policy initiatives and market forces facilitated the industry's advancement. However, as policy subsidies gradually phase out, the entire industry has transitioned into a post-subsidy era. This shift marks a movement from reliance on fiscal subsidies toward a more market-driven approach. As a result, major automotive manufacturers are currently facing a significant market reshuffle. This article employs empirical analysis to examine the impact mechanism by which consumer brand confidence influences the purchase intentions of new energy vehicle consumers. The empirical analysis reveals that both brand confidence and consumer trust significantly influence the purchase intention of new energy vehicle consumers. We suggest that Chinese new energy vehicle companies further enhance consumer purchasing willingness through three key strategies: improving product offerings, innovating promotional methods, and refining sales channels.
Author: Bingkun Guo
Institution: Rangsit University
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405710228