US Drivers Turn to EV Rentals as Gas Prices Surge
Rising fuel costs following Middle East supply disruptions have pushed US renters toward electric vehicles. Hertz and Turo report significant booking increases.
A notable shift toward electric vehicle (EV) rentals is taking hold in the United States as consumers and gig workers seek relief from rising fuel costs. Driven by geopolitical tensions in the Middle East, gasoline prices have surged, prompting many to bypass the pump in favor of battery-powered alternatives.
At Hertz, which provides long-term vehicle solutions for drivers working with UBER TECHNOLOGIES INC and LYFT INC-A, EV reservation requests jumped nearly 25% in March compared to the previous month. The trend is most pronounced on the West Coast, where fuel costs are historically highest.
