Auto Rental News Rate Survey: Summer Rates Disappoint

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 cities: Boston, Miami, Chicago, Houston, Seattle and Los Angeles. The rates are based on weekly surveys.

In spite of a promising spring, summer rates continue to be disappointing. The six-city average July monthly rate quotes were again down from the same period last year. The July, 2012 six-city average rate quotes were $11.71 lower than July, 2011. Rates looked strong until May, which was down $1.88 from May, 2011, but June was down $12.25 and as we can see, July followed June’s pattern.

ICAR Average Rate Quotes - Monthly Averages (2011)              
  May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11
BOS 35.60 62.15 80.80 29.79 38.11 29.01 32.84 31.08
MIA 28.19 56.92 65.51 33.44 31.52 46.68 47.84 57.94
ORD 45.01 59.71 60.46 35.10 56.22 53.54 39.12 32.83
HOU 34.35 45.17 41.91 40.40 49.45 44.31 43.88 37.43
SEA 46.54 60.67 74.80 58.86 37.70 28.46 27.79 25.26
LAX 38.56 51.30 44.33 32.63 34.31 33.45 30.33 33.24
6 City Avge 38.04 55.99 61.30 38.37 41.22 39.24 36.97 36.30

ICAR Average Rate Quotes - Monthly Averages (2012)               
  Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12 Jul 12
BOS 34.54 34.76 28.70 29.85 30.47 53.51 64.05
MIA 37.37 44.16 49.45 17.76 16.04 31.34 41.24
ORD 53.95 53.37 51.84 62.16 60.23 59.81 57.60
HOU 48.96 65.26 68.62 64.28 52.69 40.42 36.89
SEA 36.20 41.42 39.47 32.26 30.37 40.33 51.55
LAX 32.74 33.22 34.82 28.15 27.12 36.99 46.23
6 City Avge 40.63 45.36 45.48 39.07 36.16 43.73 49.59


In May, Chicago and Houston held their own against last year, but June and July’s falloffs spared no-one. All cities were down in at least one of the last two months. 

Year to Year Changes   Year to Year Changes   Year to Year Changes   
  May 11 May 12 Change   Jun 11 Jun 12 Change   Jul 11 Jul 12 Change
BOS 35.60 30.47 (5.12) BOS 62.15 53.51 (8.65) BOS 80.80 64.05 (16.74)
MIA 28.19 16.04 (12.15) MIA 56.92 31.34 (25.58) MIA 65.51 41.24 (24.27)
ORD 45.01 60.23 15.22 ORD 59.71 59.81 0.11 ORD 60.46 57.60 (2.86)
HOU 34.35 52.69 18.34 HOU 45.17 40.42 (4.75) HOU 41.91 36.89 (5.01)
SEA 46.54 30.37 (16.17) SEA 60.67 40.33 (20.34) SEA 74.80 51.55 (23.25)
LAX 38.56 27.12 (11.44) LAX 51.30 36.99 (14.32) LAX 44.33 46.23 1.90
6 City Avge 38.04 36.16 (1.88) 6 City Avge 55.99 43.73 (12.25) 6 City Avge 61.30 49.59 (11.71)


The rate quotes are for pickup 15 to 21 days out, so there were no holidays in the July quotes and thus the rates were relatively stable through the month, with only Miami having average rate quotes that went from a low of $23.67 to a high of $51.91.


To see June's report, click here.

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