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47% of Americans plan to purchase an EV in the next 5 years according to Verra Mobility Survey

1. 47% of respondents plan to buy an EV in 5 years. 2. 46% cite charging station availability as a major concern. 3. 73% unfamiliar with charging EV rentals impacts adoption. 4. 51% would buy EV today if cost wasn't a factor. 5. 70% prefer renting EVs to evaluate before purchasing.

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FAQ

Why Bullish?

Increased consumer interest in EVs can lead to more partnerships and contracts, potentially boosting VRRM's revenues.

How important is it?

The report highlights significant consumer interest in EVs, impacting future demand for mobility solutions.

Why Long Term?

Steady consumer adoption trends may translate to longer-term growth opportunities for VRRM in the smart mobility sector.

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More than half of respondents would purchase an EV if cost was not a factor; Survey of 2,000 Americans aged 25+ looks at consumer perceptions of EVs , /PRNewswire/ -- Verra Mobility Corporation (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, today released its second electric vehicle (EV) consumer perceptions report, "The State of EVs: 2025 Report on Smart Mobility." Notably, the survey found that 47% plan to purchase an EV in the next 5 years, with 21% planning to purchase one in the next 1-2 years. Verra Mobility polled 2,000 Americans aged 25 and older on their plans to purchase or rent an EV as well as their perceptions on EV maintenance, safety and charging. Only 7% said they currently own an EV. The full report can be downloaded at: www.verramobility.com/the-state-of-evs-2025-smart-mobility-report  "Although there have been market indications that EV adoption rates are slowing down, our analysis indicates steady, albeit more cautious adoption and interest," said Steve Lalla, executive vice president of Commercial Services at Verra Mobility. "Our survey results echo what we have been seeing and hearing for the last year as we work with customers representing cities, rental car companies, fleets and vehicle OEMs. The overall message we continue to hear is 'it's not if, but when' EVs will constitute a much more significant share of vehicles on the road." Consumers' EV purchasing plans support results from additional research conducted by Verra Mobility which found that 48% of municipal technology leaders expected EVs to make up the majority of personal vehicles within 10 years. According to recent data from Edmunds, EVs made up 8.5% of vehicles sold in mid-2024 in the U.S. The State of EVs: 2025 Report on Smart Mobility survey found that range anxiety and availability of charging stations remains the top concern around EV ownership. When asked, "What is your biggest concern with owning/driving an EV?" 46% said the availability of charging stations (the second most popular answer was upfront cost at 31%). 40% weren't aware of the closest charging station to their home and had "no clue how to find one" and 71% reported feeling range anxiety at the idea of driving an EV. This number was slightly down from last year, when 79% said they felt range anxiety. The survey also explored EV perceptions around maintenance costs, safety and awareness of charging features. Surprising stats included: 51% would purchase an EV today if upfront cost was not a factor. 73% wouldn't know how to charge an EV rental car. 70% would consider renting an EV as a way to "try before they buy" if they were considering a vehicle purchase. 63% expect maintenance costs to be higher with EVs than gas-powered vehicles. 42% think their chances of needing roadside assistance are higher with an EV versus a gas-powered vehicle. Regarding how the last year impacted Americans' decision to buy an EV, the results are split. When asked, "Are you more or less likely to purchase an EV than you were in 2023?" 31% answered more, 24% said less and 46% said the same. When asked, "After the results of the 2024 presidential election, are you more likely to purchase an EV in the next 4 years?" 15% said yes. Survey Methodology  The data was derived from a survey by Verra Mobility conducted online via Pollfish on November 15, 2024. 2,000 Americans aged 25+ completed the survey. All decimals in this report are rounded to the nearest percentage point, which may lead to certain numerical totals adding up to slightly more or less than 100%. This is the second consumer survey conducted by Verra Mobility and Pollfish. "The State of EVs: 2023 Smart Mobility Survey" can be found here. About Verra Mobility Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility's transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, Asia and Australia. For more information, please visit www.verramobility.com. SOURCE Verra Mobility WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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