Uncovering the behavioral determinants behind private car purchase intention during the new normal of COVID-19: An empirical investigation in China

Abstract

<abstract> <p>Based on the Protection Motivation Theory (PMT), the Psychological Reactance Theory (PRT), and the Theory of Planned Behavior (TPB), we revealed the psychological impact factors of individuals' private car purchase intentions during the new normal of COVID-19. Structural equation modeling (SEM) and Bayesian network (BN) were used to analyzed the car purchase decision-making mechanism. A questionnaire survey was conducted to collect empirical data from April 20th to May 26th of 2020 in China. We investigated 645 participants and analyzed the data. The SEM results showed that conditional value, pro-car-purchasing attitude, and perceived behavioral control, health value, and cost factors have significant direct effects on car purchase intention. According to BN's prediction of purchase intention, the probability of high purchase intention grew by 47.6%, 97.3% and 163.0%, respectively, with perceived behavioral control, pro-car-purchasing attitude, and conditional value shifting from "low" to "medium" and "high". This study provided a new perspective for researchers to explore the purchase intention of cars during the epidemic. Meanwhile, we could provide a reference for the government and enterprises to develop measures related to the automobile market."</p> </abstract>