Money & The Economy

82% of Travelers Will Road-Trip Memorial Day, More Than Half will Carpool

 A new survey found that despite an almost 35% year-over-year increase in gas prices, 82% of Americans who are planning to travel this Memorial Day will do so by car. Overall travel across all modes of transportation is up 8% for the holiday weekend compared to 2021, but car travel is down slightly (7%) primarily due to high gas prices, a general desire to save money due to rising inflation, and lingering COVID-19 concerns.

“Record-high gas prices aren’t scaring away as many avid road trippers this Memorial Day as one would think,” said Jenni Newman, Cars.com’s editor-in-chief. “It seems many Americans are willing to pay a premium to take some time off and celebrate the holiday. But the nature of the road trip is changing: Carpooling is no longer just for work and school commutes, and routes and destinations are being shaped by the availability of EV infrastructure for a growing number of travelers.”

Eighty-seven percent of consumers surveyed by Cars.com say they will be traveling with others this holiday weekend, with 51% citing high gas prices as a driver. For those traveling by car, 11% will be taking an electric vehicle on the road.

Newman adds, “An EV road trip means more than just relief at the pump; it adds a whole new element to the trip including accounting for charging opportunities across a country that’s still building up its EV infrastructure.”

EV-Powered Memorial Day Road Trip
According to Cars.com’s survey, 47% of EV owners take three to five road trips a year. While most road trips look similar despite your vehicle type, there are a few key differences EV drivers should be prepared for:

  • Save almost 25% at the pump: With gas prices in the U.S. now hovering around $4.59 on average per gallon for regular, EV drivers could save an average of $110-$180 for those three to five trips this year, assuming they are traveling about 200 miles at a time. While savings can vary depending on the vehicle, weight and other factors that impact fuel efficiency, if, for example, a driver of a 2022 Volkswagen Tiguan will spend $18.36 in gas (at $4.59 a gallon) to go 100 miles, a driver of a comparable 2022 Volkswagen ID.4 will spend $4.32 per kilowatt-hour ($1.08 charge) to go 100 miles. That’s almost 25% more for a gas power vehicle than an EV, according to the EPA.
  • Pre-trip planning is a must: More than three-fourths (76%) of EV drivers surveyed map out charging stations before setting out on a trip. Interestingly, respondents over 55 are significantly more likely (60%) to not map out charging stations prior to starting out than those 18-34 (15%) and 35-54 (11%).
  • Expect more stops along the way: EV drivers should plan for more frequent stops (two or three times) compared to their fuel-powered counterparts (one or two times) to recharge their vehicle. Clearly, risk takers who ride the fuel gauge past “E” exist in the EV world, too; the majority of EV owners say they charge at 30% or lower despite industry experts’ recommendations to charge at about 50%.

*All survey data is from a Cars.com consumer survey, May 4-9, 2022, 1,620 responses.

Carl Fox

Carl Fox is the senior money and finance writer for Conservative Daily News. Follow him in the "Money & The Economy" section at CDN and see his posts on the "Junior Economists" Facebook page.

Share
Published by
Carl Fox

Recent Posts

A Fed-Controlled Digital Dollar Will Mean The End Of Freedom In America

Central bank digital currencies (CBDC) are a threat to liberty. Sixty-eight countries, including communist China,…

11 hours ago

Jonathan Turley: Michael Cohen Must Convince Jury To Convict Trump For Following Legal Advice

George Washington University law professor Jonathan Turley on Thursday said Michael Cohen, who is former…

11 hours ago

Biden Slowly Destroys America With ESG, DEI And “Don’t”, And Can’t Comprehend The Actual Destruction of “Death To America”

Joey Biden thinks the soft but erosive destruction of words like ESG, DEI, CRT and…

18 hours ago

Biden Admin Releases Finalized Rules Expanding Title IX Protection To Transgender Students

President Joe Biden’s administration released a finalized rule on Friday that expands Title IX protection…

18 hours ago

‘Put Him In The Holding Cell’

A CNN panel on Friday debated the consequences of jailing former President Donald Trump for…

18 hours ago

New York’s Prosecution Of Trump Is The Perfect Lawfare Prosecution—And Anything But Perfect

Imagine for a moment the design of the perfect lawfare prosecution. Such would necessitate the…

18 hours ago