A green experience with eco-friendly cars: A young consumer electric vehicle rental behavioral model |
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| Institution: | 1. Department of Information Technology and Decision Sciences, G. Brint Ryan College of Business, University of North Texas, 1155 Union Circle #311160, Denton, TX, 76203, USA;2. School of Marketing and Management, College of Business and Public Management, Kean University, 1000 Morris Ave, Union, NJ, 07083, USA;3. Toulouse Graduate School, Department of Information Technology and Decision Sciences, G. Brint Ryan College of Business, University of North Texas, 1155 Union Circle #311160, Denton, TX, 76203, USA;1. School of Management, University of Science and Technology of China, Hefei, Anhui Province 230026, PR China;2. School of Public Affairs, University of Science and Technology of China, Hefei, Anhui Province 230026, PR China;1. Department of Management, University of Turin, C.so Unione Sovietica 218bis, 10034 Turin, Italy;2. Research Fellow of the Laboratory for International and Regional Economics, Graduate School of Economics and Management, Ural Federal University, Russia;3. Faculty of Economics and Business, University of Rijeka, I. Filipovica 4, 51000 Rijeka, Croatia;1. Graduate School of Innovation and Technology Management, Korea Advanced Institute of Science and Technology (KAIST), 291 Daehak-ro, Yuseong-gu, Daejeon, 34141, Republic of Korea;2. Electronics and Telecommunications Research Institute (ETRI), 218 Gajeong-ro, Yuseong-gu, Daejeon, 34129, Republic of Korea;3. Research Planning Center, Korea Advanced Institute of Science and Technology (KAIST), 291 Daehak-ro, Yuseong-gu, Daejeon, 34141, Republic of Korea;4. Center for Science-based Entrepreneurship, Korea Advanced Institute of Science and Technology (KAIST), 291 Daehak-ro, Yuseong-gu, Daejeon, 34141, Republic of Korea;1. Technische Universität Chemnitz, 09107 Chemnitz, Germany;2. Ulm University, 89081 Ulm, Germany |
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| Abstract: | Considering climate change and global warming, a transition from gasoline cars to electric vehicles (EVs) can progress toward reducing the carbon footprint and improving air quality. As young consumers prepare to become future automobile users, this research focuses on their EV perception, attitude, and cost considerations in a car-rental setting. Consumer confidence and affordability are the main barriers to the widespread adoption of EVs. Consumers remain skeptical about the functional and service quality of these new eco-friendly vehicles. The use of rental EVs can help consumers deal with these barriers because the stakes are relatively lower in a car-rental decision as compared to a vehicle purchase. Therefore, this study investigates the role of environmental protection attitude, subjective norms, perceived functional quality, post-rental service quality, price value, and willingness-to-pay regarding consumers rental intentions for EVs. Based on 502 survey respondents, this study tests the hypotheses using a covariance-based structural equation model. The results show that young consumers who are conscious of their environmental responsibilities, social norms, and quality are likely to rent an EV. The result also shows that price value does not directly impact the rental intention of young consumers, but rather indirectly through the mediating effect of willingness to pay. This finding is likely attributable to the fact that for this segment of the consumers, their household income determines their perceived price value and propensity to spend on eco-friendly vehicles. |
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| Keywords: | Electric vehicle Structural equation model Young consumers Rental intention Quality Price value Willingness to pay |
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