CORRECTING and REPLACING New Data Reveals Drivers Rethinking Transportation and Parking Options

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CORRECTING AND REPLACING NEW DATA REVEALS DRIVERS RETHINKING TRANSPORTATION AND PARKING OPTIONS

New findings from SpotHero report uncover environmental consciousness, stress of parking and concerns over a potential recession are shaping driving habits

SpotHero, the leading parking reservation marketplace in North America, revealed environmental sustainability, stress and the economy are key transportation-related trends influencing drivers' decisions, according to survey results presented in its 2023 State of Parking Report. The survey, which found most drivers (73.5%) find parking stressful, and two-thirds (68.9%) are cutting down on personal spending, comes at a time when drivers are navigating variables such as economic uncertainty, global conflict and climate change.

The survey of 1,006 adults in the U.S. and Canada garnered insights, opinions and a deeper understanding of what matters to drivers. It found an increased interest in environmentally friendly transportation, with 72.4% of respondents noting they are considering an electric vehicle (EV) for their next vehicle purchase. Eight in ten (80.1%) drivers surveyed are considering environmental sustainability when choosing their modes of transportation. Of those who currently drive an EV, almost all (95%) said they would pay more for a parking spot which has a charger included, a 3.5% increase compared to 2022.

Separately, the survey found 73% of drivers said parking is stressful, an increase of more than 50 percent (54%) from 2022. In fact, drivers found it so stressful that more than half of respondents (53%) indicated they are likely to avoid plans completely due to parking. Nearly sixty percent of drivers surveyed (57.9%) indicated it usually takes at least 10 minutes to find a parking spot.

"In our second year running the State of Parking survey, we saw new priorities and sentiments emerge from today's drivers," said SpotHero co-founder and CEO Mark Lawrence. "Sustainability and convenience are proving to be increasingly important as we emerge from the pandemic, making it vital for companies to serve those interests in order to provide value to customers. We're doing this at SpotHero with features like filters that allow drivers to search for EV charging and covered parking, in addition to our new Scan2Pay technology that makes booking parking on-the-go seamless."

Outside of environmental consciousness and overall stress, drivers are bracing for economic impacts. More than 80 percent of respondents (81.3%) said they've already changed their spending habits due to economic uncertainties. And while many survey respondents indicated they prefer street parking, more than half (52%) reported they've received a parking ticket ? an unexpected expense ? this past year.

SpotHero will host a webinar on the 2023 State of Parking Report on May 3, 2023. For more information on SpotHero, including options to save time and money on parking at popular events throughout North America, visit spothero.com.

About SpotHero

SpotHero is the leading parking reservation marketplace in North America. Millions of drivers use SpotHero's mobile apps and website to find, book and access off-street parking in more than 8,000 locations in over 300 cities in the U.S. and Canada. Leading operator partners leverage SpotHero's AI-powered dynamic pricing platform SpotHero IQ to power data-driven decisions. For more information, visit SpotHero.com.