Would You Rent an EV Before Buying?

EV charging and maintenance are top concerns for potential U.S. consumers of electric vehicles (EVs). Verra Mobility released a new report, “The State of EVs, 2023 Report on Smart Mobility,” covering consumer perceptions of EVs. They polled 2,000 Americans aged 25 and older on their perspective on renting an EV, safety, convenience, and the decision to purchase one in 2023. The results were somewhat surprising.

For example, 78% of Americans would consider renting an EV as a way to ‘test drive’ the technology. According to Modor Intelligence, the EV rental car market was valued at $9.13 billion in 2021 and is expected to reach $20.42 billion by 2027. Verra Mobility found that 27% of survey respondents had previously rented an EV (19% for personal use and 8% for business), and of those, 64% would consider buying based on their driving experience.

Verra Mobility also found that 63% expected maintenance costs to be higher with EVs versus gas vehicles, despite Car & Driver finding the opposite is true. Survey respondents also thought roadside assistance incidents would be greater with EVs, and 77% of respondents felt that EVs were as safe or safer than gas-powered automobiles.

Concerns regarding charging station availability and cost are high. 79% reported being concerned about range anxiety and noted the availability of charging stations as the number one obstacle, with (33%) owning/driving an EV, followed by cost (29%). 40% said they would rent an EV over a gas vehicle if cost weren’t a factor, and only 19% said they would rent a gas vehicle regardless of price. To download the full report, visit: https://www.verramobility.com/ev-2023-smart-mobility-survey.