More than 3 in 5 Americans often weigh the environmental impact of purchases before buying, and more than half are interested in buying an EV now more than ever before, according to New Tenet study: Consumers Come Clean: Environment & EVs

NEW YORK–(BUSINESS WIRE)–Tenet, the leading EV financing platform, today unveiled the findings of its new report, “Consumers Come Clean: Environment & EVs,” which uncovers Americans’ desires to have a positive environmental impact despite inaction at a societal level. The survey, which was conducted online by The Harris Poll among over 2,000 U.S. adults, highlights consumer sentiment on living a more sustainable lifestyle, combating climate change and the increasing shift towards more sustainable purchases, including electric vehicles, as more than half of Americans (55%) are more interested in purchasing EV’s now than ever before.

“We’re at a really pivotal moment in our country where climate change is unavoidable and individuals are looking for ways to address their personal footprint,” said Alex Liegl, co-founder and CEO of Tenet. “This report shows just how much Americans understand that and want to make an actual change, but are stopped by high price tags and confusion around how to make the sustainable choice. Our mission at Tenet is to help consumers electrify their lives by offering financial incentives that change behaviors.”

Climate Complacency

Two-thirds of Americans (67%) and three-fourths (75%) of those ages 18-34 believe that combating climate change doesn’t seem to be a priority for politicians and the government. In fact, more than half (56%) believe that wealthy individuals, not the government, will have more of an impact in combating climate change. And 68% of those ages 18-34 feel the same about wealthy individuals being more likely to drive climate change than the government.

While consumers may not have confidence in systemic change to fight climate change, the survey found that individuals want to take action on their own. More than half of Americans are considering the environment when making decisions that range from shopping to dating:

• Purchasing power: 61% say they often consider the environmental impact of new purchases before they buy
• Green living is a green flag: 59% would be turned off if a significant other didn’t care about the environment
  • Those ages 65 and older are more likely to share this sentiment (64%) than those ages 45-54 (52%)

• Climate confusion: Almost half (44%) of Americans say they are confused on the best way for them to live a sustainable lifestyle

The Need for EVs

With inflation hitting the highest levels in two generations and people paying record prices at the gas pump, EVs help unlock long-term financial benefits to help address climate change. The survey found that more than half (55%) of Americans are more interested in purchasing an electric vehicle now than ever before. Nearly two-thirds (65%) say they would buy an electric vehicle for their next vehicle if the price was comparable to a gas-powered auto. The cost of EVs remains a major hurdle to adoption, as 81% believe buying electric is too expensive.

“To transition toward a more sustainable economy, we need systems that will financially incentivize people to make climate-positive decisions. Tenet lowers the total cost of ownership for electric vehicles and makes EV ownership more affordable than ever before,” said Liegl.

Additional survey findings include:

• Perception vs. performance: 60% of Americans believe that most people who own an electric vehicle are more concerned about status and perception than the sustainable benefits of the car itself
• EV QA: 64% of those ages 18-34 believe that EVs are better quality vehicles than gas-powered vehicles, compared to 33% of those ages 65 and older

To learn more about how to save on purchasing an electric vehicle, visit www.tenet.com.

Survey Methodology

This survey was conducted online within the United States by The Harris Poll on behalf of Tenet from July 21-25, 2022 among 2,040 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

About Tenet

Tenet makes the sustainable choice the smart financial choice. Tenet’s innovative electric vehicle financing provides substantial savings by lowering monthly payments and driving adoption of environmental home upgrades. Founded in 2021 by Alex Liegl, Andreas Wallendahl, and Paul Sebexen, Tenet is backed by Human Capital, Giant Ventures, Breyer Capital, Global Founders Capital, Firstminute Capital and additional angel investors. The company’s headquarters are in New York. For more information, visit www.tenet.com.

Contacts

Yalda Rafie

SutherlandGold for Tenet

[email protected]