An imbalance of cars and the high cost to move them to where they’re needed, rentals booked for low rates in April, and higher incidences of fraud and damage plague the shift to local rentals during the COVID-19 pandemic.
As a result of the current health crisis, car rental prices have gone down across the globe.
The AlixPartners survey found that 50% of respondents cited parking issues and associated costs; 35% cited the laborious process of renting a car as reasons for using ride hailing instead.
Luxury car rental sales as well as prices are increasing in Houston ahead of the Super Bowl. Normally priced at $1,299 per day, the Lamborghini Huracan convertible is currently going for $2,500 per day at a Houston luxury rental location.
As Europe finally exits a tough economy, market fragmentation, pricing pressures and difficult business conditions pose challenges to growth.
Pricing in Europe's large markets should remain a challenge due to more suppliers, the emergence of value brands and increased demand for smaller rental vehicles.
A soft euro against the U.S. dollar means the Americans are coming. Car rental in Europe will be different in 2015. Operators should act now to seize the opportunities.
After receiving several customer complaints concerning discriminatory practices for renting a car online, the European Commission sent a letter to the CEOs of six car rental companies in the member states of the European Union.