Car Rental Rates Continue Strong Year-Over-Year Results in January

(Click to enlarge.)
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.
(Click to enlarge.)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.

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 (BOS), Miami (MIA), Chicago (ORD), Houston (HOU), Seattle (SEA) and Los Angeles (LAX). The rates are based on weekly surveys and are published monthly.

Analysis and commentary provided by Jim Tennant of The Tennant Group. This survey is dated Feb. 4. There will also be a session on rates and rate management at the next Car Rental Show, April 15-16, 2013 at the Rio in Las Vegas.

Please note that some extraneous data was inadvertently included in the last four months of surveys. Results for September through December 2012 have been revised, although only the December revision was significant.

The strong year-over-year results that we saw in November and December continued into January. While not as strong as December, the January 2013 increase of $6.27 over the previous year is still an impressive result.

Boston and Chicago continued to have double digit year-over-year increases and only Seattle had a small decrease from last year. The year-to-comparisons of Jun 2012 through January 2013 is available below.

Year-to-Year Comparisons

 

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

BOS (8.65) (16.74) (0.21) 1.14 1.52 10.11 24.44 12.32
MIA (25.58) (24.27) (11.98) (6.02) (9.79) (7.28) 11.67 5.74
ORD 0.11 (2.86) 22.96 6.24 10.64 28.72 37.24 12.14
HOU (4.75) (5.01) (6.54) (9.46) (4.50) (2.88) 2.88 (2.76)
SEA (20.34) (23.25) (22.59) (2.29) 0.53 7.10 19.31 4.90
LAX (14.32) 1.90 (7.87) (5.50) (7.91) 4.11 9.64 5.29
6-City Avg.* (12.25) (11.71) (4.37) (2.65) (1.58) 6.65 17.53 6.27

*This is the total 6-city average compared year-over-year, not the average difference of each month.

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.

Comments

  1. Maggie Yang [ February 16, 2013 @ 05:16PM ]

    The increase is basically due to the oil and petroleum hikes which prompted companies and stores to increase their prices for compensation. Sometimes though, prices increase irrationally which made us think that producers are making prices up.

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