With the help of Michael Meyer of Rate-Highway Inc. and Jim Tennant of The Tennant Group, Auto Rental News will conduct weekly auto rental rate surveys for six major cities and will publish the findings in our e-newsletter the first Wednesday of each month.
The average rates for September recovered somewhat from the dramatic dropoff in August. Rates are pulled for pickup 2 to 3 weeks out, so demand vs. availability can be expected to be stronger in October than September. Looking at individual cities, Boston, Chicago and Houston showed sharp increases, Seattle had a major dropoff and Miami and LAX were relatively stable.
Average weekly rates were quite stable. Except for the 9/9 pull (for pickup from 9/24 to 9/30), the average was between $41.02 and $42.52 for the 6 weeks ending 9/30. Miami is recovering from its low, Seattle is falling off and the rest are stable through September. Chicago continues to be at or near the top of the rate rankings.