<i>Auto Rental News</i> Rate Survey: Summer Rates Disappoint

In spite of a promising spring, summer rates continue to disappoint. The six-city average July monthly rate quotes were again down from the same period last year.

by Staff

August 8, 2012

<i>Auto Rental News</i> Rate Survey: Summer Rates Disappoint — These tables and graphs show the average of all base rate quotes per day for an ICAR at the 6 airports shown, for arrivals 15 to 21 days ahead of the date of the survey, for 2 and 7 day rentals. If the arrival date is a Friday or Saturday, the 2 day rate will be a weekend rate, otherwise it will be a regular rate. Analysis and commentary provided by Jim Tennant of The Tennant Group.

3 min to read

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 cities: Boston, Miami, Chicago, Houston, Seattle and Los Angeles. The rates are based on weekly surveys.

In spite of a promising spring, summer rates continue to be disappointing. The six-city average July monthly rate quotes were again down from the same period last year. The July, 2012 six-city average rate quotes were $11.71 lower than July, 2011. Rates looked strong until May, which was down $1.88 from May, 2011, but June was down $12.25 and as we can see, July followed June’s pattern.

ICAR Average Rate Quotes - Monthly Averages (2011)
	May 11	Jun 11	Jul 11	Aug 11	Sep 11	Oct 11	Nov 11	Dec 11
BOS	35.60	62.15	80.80	29.79	38.11	29.01	32.84	31.08
MIA	28.19	56.92	65.51	33.44	31.52	46.68	47.84	57.94
ORD	45.01	59.71	60.46	35.10	56.22	53.54	39.12	32.83
HOU	34.35	45.17	41.91	40.40	49.45	44.31	43.88	37.43
SEA	46.54	60.67	74.80	58.86	37.70	28.46	27.79	25.26
LAX	38.56	51.30	44.33	32.63	34.31	33.45	30.33	33.24
6 City Avge	38.04	55.99	61.30	38.37	41.22	39.24	36.97	36.30

ICAR Average Rate Quotes - Monthly Averages (2012)
	Jan 12	Feb 12	Mar 12	Apr 12	May 12	Jun 12	Jul 12
BOS	34.54	34.76	28.70	29.85	30.47	53.51	64.05
MIA	37.37	44.16	49.45	17.76	16.04	31.34	41.24
ORD	53.95	53.37	51.84	62.16	60.23	59.81	57.60
HOU	48.96	65.26	68.62	64.28	52.69	40.42	36.89
SEA	36.20	41.42	39.47	32.26	30.37	40.33	51.55
LAX	32.74	33.22	34.82	28.15	27.12	36.99	46.23
6 City Avge	40.63	45.36	45.48	39.07	36.16	43.73	49.59

In May, Chicago and Houston held their own against last year, but June and July’s falloffs spared no-one. All cities were down in at least one of the last two months.

Year to Year Changes				Year to Year Changes				Year to Year Changes
	May 11	May 12	Change		Jun 11	Jun 12	Change		Jul 11	Jul 12	Change
BOS	35.60	30.47	(5.12)	BOS	62.15	53.51	(8.65)	BOS	80.80	64.05	(16.74)
MIA	28.19	16.04	(12.15)	MIA	56.92	31.34	(25.58)	MIA	65.51	41.24	(24.27)
ORD	45.01	60.23	15.22	ORD	59.71	59.81	0.11	ORD	60.46	57.60	(2.86)
HOU	34.35	52.69	18.34	HOU	45.17	40.42	(4.75)	HOU	41.91	36.89	(5.01)
SEA	46.54	30.37	(16.17)	SEA	60.67	40.33	(20.34)	SEA	74.80	51.55	(23.25)
LAX	38.56	27.12	(11.44)	LAX	51.30	36.99	(14.32)	LAX	44.33	46.23	1.90
6 City Avge	38.04	36.16	(1.88)	6 City Avge	55.99	43.73	(12.25)	6 City Avge	61.30	49.59	(11.71)

The rate quotes are for pickup 15 to 21 days out, so there were no holidays in the July quotes and thus the rates were relatively stable through the month, with only Miami having average rate quotes that went from a low of $23.67 to a high of $51.91.

To see June's report, click here.

Topics:Airport Rentals Survey 6-City Survey Rental Rates Rate-Highway Tennant Group Rental Operations