The string of year-over-year rate increases continues, but at a more moderate rate, according to Rate-Highway's monthly rate survey. In February, the rates increased to only $1.44 higher than a year ago.
by Staff
March 5, 2014
Rate data provided by Rate-Highway, a leading provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey. 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.
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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.
The February 2014 six-city rate quote average was $1.44 over February 2013, and thus continues the string of year-over-year increases stretching back to November 2012 — interrupted only by a flat April 2013 and a moderate drop in November 2013.
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However, within this 16-month period, the February increase is the smallest we have seen in the last 14 months. The large year-over-year increases were not sustainable, and we expect to see rates flatten over the summer.
Individual cities continue to be inconsistent, ranging from a $6.61 decrease in Los Angeles to a $16.05 increase in the Houston market.
Rate data provided by Rate-Highway, a leading provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey. 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.
Following Hertz, the company is the second global car rental conglomerate to sustain sizable losses due to lower customer demand and usage of electric rental cars.
