Influence of marketing communication on purchase intention of the luxury electric vehicles in China : mediating role of consumer brand preference and perceived value

The electric vehicle (EV) market has been experiencing rapid growth as consumers become increasingly concerned about the environment and technology. In 2023, global sales of new energy vehicles (NEVs) reached 14.653 million units, with a year-over-year increase of 35.4%. By 2024, NEV sales grew to 12.866 million units, with the market expanding by 35.5%. Projections suggest that global EV sales will reach 145 million units by 2025, surpassing those of internal combustion engine (ICE) vehicles. These trends underscore the EV industry's accelerating trajectory and its potential to dominate the global automotive market in the future. Leading brands such as Tesla, BMW, Mercedes-Benz, and Audi, alongside emerging innovators, are intensifying competition by leveraging the advanced technologies and customer-centric strategies. In this dynamic landscape, nderstanding key factors influencing consumer purchase intention is critical for businesses. The research conducted through quantitative methods and structural equation modeling (SEM), along with data collected from 701 Chinese consumers aged 18 and above, this study examined the roles of marketing communication perceived value, and brand preference in influencing purchasing decisions of luxury electric vehicles (LEVs) in China. Existing studies reveal that marketing communication significantly and positively influences both consumer perceived value and brand preference. Perceived value and brand preference, in turn, positively affect purchase intention and serve as mediating factors between marketing communication and purchase intention. Notably, marketing communication does not directly influence purchase intention, emphasizing the importance of enhancing brand value and cultivating consumer brand preference. These findings suggest that LEV manufacturers should move beyond traditional marketing approaches and focus on strategies that build and communicate a strong brand image while aligning with consumer values and preference.