Hertz Raises Retail Rates on Car Rentals
Hertz and other agencies have raised rates to remain profitable, and more companies are considering doing the same.
The Wall Street Journal reports several car rental agencies raising prices to reflect increasing operating costs.
Hertz Global Holdings Inc. has implemented price increases at its retail rental locations in North America and Europe to curb the effects of inflation, rising commodity costs, and a tough used-car resale market.
Hertz says car-rental rates will rise by an average of more than 10 percent in North American airport markets -- or more than $5 a day; 5 percent in U.S. off-airport markets, and about 10 percent in European airport and downtown markets.
Enterprise Rent-A-Car, National Car Rental and Alamo Rent-A-Car have increased retail pricing over the past month at airport locations. Dollar Thrifty will wait and see before it considers raising its rates, according to The Wall Street Journal.
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