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Why the price of rental cars is going up

Why the price of rental cars is going up

The unintended consequence of an economic recovery is that it starts in the United States, and it may not be the best. The price of rental cars has been rising in recent weeks. Up to $ 700 per day. An event that can spread to other countries.

I experienced this hike when I was in Florida 10 days ago Take Thomas Basket And three astronauts. I noticed that the rent was more expensive than usual. Yet I went through a rental company that was considered cheap. Two days ago, at this time I wanted to rent a car for personal reasons: First price 30 230 per day. With taxes and insurance, it goes up to $ 300 or up to யூ 250 a day. Again, this was in a western state described as rural, where prices were much cheaper than New York.

The same day, I came across an article Washington Post It illuminates my bulb. The article began as follows: Consumers Strict in increasing rental car prices. Why are prices so high? Because Agencies no longer have enough cars In stock.

The fleet of rental agencies has melted away

How to explain this increase? Are Americans rushing into the rental market? This is part of the explanation, but not the most important. In fact, by gradually removing the restrictions, More and more Americans are thinking Arrange for the holidays. This is a fact.

But above all, the fleet of rental companies has shrunk in recent months.
Infectious forces, Americans rarely moved away from home, business trips were minimized. Suddenly, Hertz and other Sixes or Enterprise saw parking lots of unused cars. Major car rental companies sold a total of 770,000 cars in the second hand market, To offset losses and re-create cash flow.

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Unlike the aviation industry, players in this field may not have a choice because they have little help. Rarely is it expensive, which explains the price increase. Magazine Forbes Noted that you had to pay in Arizona At least $ 700 a day for an SUV. This is not a small model, but still. Rental points have multiple hour queues because rental companies can no longer fulfill all orders.

Towards a similar situation in Europe?

Looking at the new consumer demand, car rental companies will try to fill their fleet a little. But this is complicated, because at the same time, there are currently Lack of semiconductors, These little essential parts to create the connection between the electronic circuits. Therefore, Fewer cars are being built. Rental companies are not expected to fill their previous inventory until 2022.

In cities like Denver or San Diego, prices have doubled this summer, according to a study by Barclays Bank. Major rental companies have not been contacted yet, however The strategy is global. So what is currently happening is very possible United States It also happens in Europe and France. If in doubt, it is better not to wait too long if you have decided to rent a car for your vacation.

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