Driven by Zero Emissions or Paramount Prestige? - Investigating the Coexistence of Environmental Concern and Materialism in Predicting Purchase Intentions of Premium Electric Cars

Sammanfattning: As the world embraces sustainability, markets align with the shift and undergo transformations. One of which is the luxury segment, from which the integration of sustainability challenges the theorized paradoxical relationship of the two concepts. This study investigates the paradoxical relationship between sustainability and luxury by examining the determinants of purchase intentions (PIs) in the context of premium electric cars (PECs). To achieve this, the study extends the Theory of Planned Behavior (TPB) by incorporating personal moral norms (PMN), environmental concern (EC), and materialism (MAT) as additional variables to the original components attitudes (ATT), subjective norms (SN) and perceived behavioral control (PBC). Data from 378 Swedish car consumers were collected through a survey and analyzed through structural equations modeling (SEM). The findings indicate positive and significant relationships from all endogenous variables to PI. EC and MAT have significant positive influences on these variables, except from EC to PBC. An indirect effect is observed from EC and MAT to purchase intentions, mediated through the endogenous variables. Additionally, three clusters are identified, demonstrating either a compatibility or an incompatibility between EC and MAT in influencing consumer’s purchase intentions of premium electric cars. This study provides insights into the drivers of purchase intentions for PECs and the interplay between sustainability and luxury. Policymakers and automotive industry managers can leverage these findings to develop targeted strategies for specific consumer segments, thereby increasing sales. The research emphasizes the importance of considering the paradoxical relationship between sustainability and luxury when examining consumer behavior in the context of green luxury consumption.