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Rental Car supply and demand shortage drives price increase
[ZERO] Supply chain issues aren't just showing up for consumer staples, they're also starting to rear their head in rental cars.There has been a shortage in the rental car industry since earlier this year and while travelers are "encountering higher rates and few choices," according to a new Wall Street Journal article, companies like Hertz are "struggling" to re-stock fleets after downsizing due to Covid. For customers lucky enough to even find a car, many are being forced to downsize or book vehicles they didn't originally intend. At the same time, rental rates are skyrocketing. The daily rate is now $81, which is up 31% from a year prior, WSJ reported. Hasn't someone told Hertz the "official" CPI number is just 6.7%? This figure is up from about $46 per day, prior to the pandemic. In winter destinations like Maui, Salt Lake City and Bozeman, Mont., rates are over $100 per day, WSJ reported. The omicron variant has also caused some travelers to switch from flying to driving, further depleting supply of rental cars. One traveler who chose to drive to North Carolina from Chicago told the Journal: "It was overall a high-stress situation."  I doubt those rates include State and local taxes.Posted by: Besoeker 2021-12-27 |
| http://www.rantburg.com/poparticle.php?ID=620977 |