Abstract:

One of the most effective approaches to achieving net-zero carbon emissions in the road transport industry is electrifying private motorized transportation. However, most advanced industrialized countries still have poor adoption rates of battery-electric vehicles (BEVs). Resale anxiety is one of the most often cited but understudied potential barriers to BEV adoption. This paper focuses on a particular perceived financial obstacle-resale value anxiety. It refers to the fear of comparatively low expected resale values of BEVs, resulting, among other reasons, from expectations concerning rapid progress in battery technology. However, based on three survey-embedded vignette experiments in Switzerland (N = 3901 in total), the authors find the opposite of resale anxiety: a higher expected resale value of BEVs compared to conventional cars. The findings suggest that regulatory policy and social norm signals in this area are gaining ground, boding well for consumer acceptance of BEVs in the coming years.