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

Rhea-AI Summary

Verra Mobility (NASDAQ: VRRM) has released its second electric vehicle consumer perceptions report, revealing significant insights about EV adoption in the United States. According to the survey of 2,000 Americans aged 25+, 47% plan to purchase an EV within 5 years, with 21% planning to do so in the next 1-2 years. Currently, only 7% of respondents own an EV.

Key findings show that 51% would purchase an EV if cost wasn't a factor. Range anxiety and charging station availability remain top concerns, with 46% citing charging infrastructure as their biggest worry. The survey also revealed that 73% wouldn't know how to charge an EV rental car, and 70% would consider renting an EV as a trial before purchasing.

Regarding the impact of recent events, 31% are more likely to purchase an EV compared to 2023, while 24% are less likely, and 46% remained unchanged. The survey aligns with municipal expectations, as 48% of city technology leaders expect EVs to constitute the majority of personal vehicles within 10 years.

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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

MESA, Ariz., Jan. 28, 2025 /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.

Media Relations:	Investor Relations:
Eric Krantz	Mark Zindler
eric.krantz@verramobility.com	mark.zindler@verramobility.com

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SOURCE Verra Mobility

FAQ

What percentage of Americans plan to buy an EV in the next 5 years according to Verra Mobility's 2025 survey?

According to Verra Mobility's survey, 47% of Americans plan to purchase an EV in the next 5 years, with 21% planning to buy within 1-2 years.

What is the current EV ownership rate among survey respondents for VRRM's 2025 report?

Only 7% of survey respondents currently own an electric vehicle according to the report.

What are the main concerns about EV ownership identified in Verra Mobility's 2025 survey?

The top concern is charging station availability (46%), followed by upfront cost (31%). Additionally, 71% reported feeling range anxiety about driving an EV.

How has the likelihood of EV purchases changed from 2023 to 2024 according to VRRM's survey?

31% of respondents are more likely to purchase an EV than in 2023, 24% are less likely, and 46% remained unchanged.

What percentage of Americans would buy an EV if cost wasn't a factor according to the 2025 VRRM report?

51% of survey respondents indicated they would purchase an EV if upfront cost was not a factor.