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Airport rates in January dropped $3.87 compared to a year ago. The Tennant Group and Rate-Highway also took a look at the major eight rental brands’ average rate quotes over the last three years. National has held the highest rates for the most weeks over Hertz and Avis.
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December airport rate quotes were down $1.02 nationwide from a year ago. With year-to-year comparisons from down $6.11 in January to up to $5.48 in September, the last three months of 2016 were relatively stable.
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November rates are up $.05 over November 2015, while 12 months to November averaged a small $0.31 decrease.
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After two months of significant rate quote increases over the previous year, airport rates for October were down $0.65 or about 1.5%, almost flat year-over-year. Rates turned down for the middle two weeks in October, but they were up again the last week of the month.
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Airport rates for September are up $5.48 year-over-year, the largest increase since July 2014. But the weekly rates suggest it’s not yet a guarantee that rates are on a long-term upward trend: the rates were up mid-month and then flattened out the last two weeks.
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August rate quotes showed some strength, up $2.81 or 7% from August 2015. Hertz and National had the highest weekly average rates when comparing the eight major brands.
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After a decrease in June, July’s airport rates were down 60 cents from a year ago. Avis Budget Group and Hertz both expect flat or slightly higher pricing for the balance of 2016.
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After a small upturn in rate quotes for March, April, and May, airport rates dropped slightly (74 cents) in June. Summer rental rates may be impacted by England’s decision to leave the European Union; the euro and pound have already been weakened.
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For the first time since July 2014, airport rates were up back-to-back months: in April at $0.59 and in May at $3.79. Denver had the highest average quote at $66.82 while San Diego had the lowest rate at $34.17.
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For the first time in five months, April airport rates were up — up $0.59 overall. The Northeast continued its large year-over-year declines while the Southeast, Southwest, and Northwest were up in the $4 to $5 range.
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