Your Holiday Rental Car Will Cost a Fortune, Again
Car-hire firms are making the most of their oligopoly.
A traveler walks past a sign displaying the various car-rental companies at Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia.
Photographer: Chris Rank/Bloomberg
I’ve mixed news for those looking to book a rental car for their summer vacation: While you may end up paying less than last year, the cost will still feel painful compared to the low levels consumers were accustomed to prior to the pandemic.
The vehicle shortages that upended this industry in 2021 and 2022 — dubbed the “rental car apocalypse” — have eased somewhat. Strong international leisure travel and rebounding corporate bookings mean rental firms are set to enjoy another strong summer and they are determined not to wreck their new pricing power by expanding their fleets too much.