Vehicular ad hoc networks (VANETs), which are a class of Mobile ad hoc networks, have recently been developed as a standard means of communication among moving vehicles. Since VANETs are vital to the safety of the vehicles, the infrastructure, and the humans involved, a deep analysis of their potential behaviours is clearly required. In this paper we provide this analysis through the use of formal verification. Specifically, we formally analyse a specific congestion control protocol for VANETs using a probabilistic model checking technique, and investigate its correctness and effectiveness.