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In this paper, we propose an efficient security scheme for position-based routing (ESPR) in vehicular ad hoc networks (VANETs). The ESPR scheme considers both digital signature and keyed Hash Message Authentication Code (HMAC), where the key used in calculating the HMAC is shared only between unrevoked On-Board Units (OBUs). In addition, the ESPR scheme uses a novel probabilistic key distribution, which enables unrevoked OBUs to securely share and update a secret key. By conducting security analysis and performance evaluation, the ESPR scheme is demonstrated to outperform its counterparts in terms of communication overhead and delay while achieving robust and secure operation.