2022 Auto Lending: New Consumer Survey on Electric Vehicles Should Put Charge in Credit Unions’ Need to Respond

Rapidly changing consumer attitudes make it clear credit unions will need to move even faster in 2022 and beyond when it comes to auto lending and relationships with not just dealers, but manufacturers.

That much is clear in a recent survey that reveals half of U.S. consumers say they would consider purchasing an electric vehicle (EV) in the next decade, and the share is increasing.

The change in consumer attitudes is reflected in the market,  with 2022  expected to bring an especially dramatic increase in the number of EVs on the U.S. market, growing from the approximately 62 models available at present to at least 100.

The new survey, from Morning Consult polling, shows 51% of U.S. adults say they are likely to consider purchasing an electric vehicle in the next decade, up from 39% in January and 43% in March-April.

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