Average Car Rental Rates Up Over May But Still Down Compared to 2011

With the help of Michael Meyer of Rate-Highway Inc. and Jim Tennant of The Tennant Group, Auto Rental News publishes monthly auto rental rate surveys for six major airports in the cities of Boston, Miami, Chicago, Houston, Seattle and Los Angeles. The rates are based on weekly surveys.

Analysis and commentary provided by Jim Tennant of The Tennant Group. This survey is dated July 9. (Click on the charts and graphs for a larger view.)

Rate data provided by Rate-Highway, a provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey.
Rate data provided by Rate-Highway, a provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey.

The 6 City Average June rate quotes were $7.57 above May but $12.25 below June 2011. In spite of stronger rates in the early months of 2012 over 2011, the $1.88 falloff observed in May 2012 over May 2011 increased to $12.25 in June. This does not bode well for summer rates and perhaps reflects the lackluster performance of the overall economy in recent months.

These tables and graph show the average of all base rate quotes per day for an ICAR at the six airports shown for arrivals 15 to 21 days ahead of the date of the survey, for two- and seven-day rentals. If the arrival date is a Friday or Saturday, the two-day rate will be a weekend rate, otherwise it will be a regular rate.
These tables and graph show the average of all base rate quotes per day for an ICAR at the six airports shown for arrivals 15 to 21 days ahead of the date of the survey, for two- and seven-day rentals. If the arrival date is a Friday or Saturday, the two-day rate will be a weekend rate, otherwise it will be a regular rate.

Again, individual city results varied considerably. While all except Chicago were down (and that city showed an insignificant 11 cent increase) the decreases varied from 10.5% in Houston to 44.9% in Miami.

Miami continues to show extreme volatility around holidays, in this case drifting down to an all-time low rate of $12.28 on June 8, then jumping to $49.50 the next week. A look at the chart below will show similar volatility in Miami this time last year and again around Labor Day, Thanksgiving, Christmas and Easter/Spring Break.

To see May's report and average rates, click here.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safety Tech: Crash Avoidance or Sensory Overload?

As advanced safety technologies become even more pervasive on mainstream vehicles, are we creating “stupid drivers?"

Own the Fleet, Own the Future

In the dialogue surrounding new transportation paradigms, fleets have been off the public radar until recently. Here’s what’s going on, and a way for you to participate in the conversation.

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Job Finder: Access Top Talent. Fill Key Positions.

>