With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
Year-to-year rate quote comparisons have gone from negative to slightly positive, albeit at a slow pace. Over five months, comparisons have gone from down $6.12 to up $0.59. This seems to signal a slight upturn in rates for the summer.
Most conversations at the recent International Car Rental Show were cautiously optimistic, with the feeling that industry fleeting was in line with demand. There was concern expressed about the upcoming air bag recalls and its effect on fleet availability.
The Northeast continued its large year-over-year declines that we have seen almost every month since late 2014. The Midwest was flat while the Southeast, Southwest, and Northwest were up in the $4 to $5 range.