February Continues Strong Rate Trend

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.

February, 2013 continued the trend of the previous three months, with a 6-city average rate quote $5.32 higher than a year ago. The year-over-year increase was smaller than January, but it was pulled down by the $14 decrease in Houston. Houston’s rates for February through May, 2012 were extraordinarily high and are now back to more normal levels. The other five cities’ year-over-year increase averaged more than $9 – a very respectable increase indeed.

Boston and Los Angeles were the two lowest average quotes, but their increases were both double digit and the highest of the six cities. Chicago continues to have the highest quotes.

For an Auto Focus blog on a pricing analysis based on the public companies' full-year and fourth quarter conference calls, click here.

Year-to-Year Comparisons

 MayJunJulAugSepOctNovDecJanFeb
BOS (5.12) (8.65) (16.74) (0.21) 1.14 1.52 10.11 24.44 12.32 10.52
MIA (12.15) (25.58) (24.27) (11.98) (6.02) (9.79) (7.28) 11.67 5.74 8.24
ORD 15.22 0.11 (2.86) 22.96 6.24 10.64 28.72 37.24 12.14 6.81
HOU 18.34 (4.75) (5.01) (6.54) (9.46) (4.50) (2.88) 2.88 -2.76 (14.00)
SEA (16.17) (20.34) (23.25) (22.59) (2.29) 0.53 7.10 19.31 4.90 8.65
LAX (11.44) (14.32) 1.90 (7.87) (5.50) (7.91) 4.11 9.64 5.29 11.73
6-City Avge* (1.89) (12.25) (11.71) (4.37) (2.65) (1.58) 6.65 17.53 6.27 5.32

*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.

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

The Customer Isn’t Always Right

Not caving to a customer with a blatant agenda may have consequences, especially for a small rental company that relies on stellar Yelp ratings to advertise. But business integrity must prevail.

The Truth Behind Compact Van Depreciation

Why are large van values holding up better than their compact counterparts, and will it last?

Car Rental’s Call to Action on Autonomous Vehicles

The car rental industry has built-in advantages to support a world with driverless cars, but it needs to take the next step in partnering with autonomous vehicle stakeholders.

Job Finder: Access Top Talent. Fill Key Positions.