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, Miami, Chicago, Houston, Seattle and Los Angeles. The rates are based on weekly surveys.
Analysis and commentary provided by Jim Tennant of The Tennant Group. This survey is dated May 7. (Click on the charts and graphs for a larger view.)
The 6 City Average May monthly average rate quotes ended up $2.91 below April. We have year-over-year comparisons for the first time since we started the survey, and May 2012 was $1.88 below May of last year. Rates in the early months of 2012 looked strong, so the year-to-year falloff is somewhat surprising.
As is often the case, a more complete picture can be seen by digging deeper into the numbers. The 6 City Average was down a disappointing — but relatively small — $1.88. Individual cities, however, were dramatically different. For example, Chicago and Houston were up $15.22 and $18.34, respectively, but the other four cities were all down from $5.12 (Boston) to $16.17 (Seattle).
Miami, at $16.04, had the lowest monthly average rate quote of any of the cities in the last 13 months.