Another reason for the impending surge of car rental fees deals with companies trying to recuperate losses sustained during 2020 lockdowns. During the height of shelter-in-place orders and a temporary pause on travel, many rental companies sold their fleets just to stay in business.
Now, these companies are looking to make back the money they lost. Of course, the only way to make this realistically happen is by passing the extra costs down to the consumer.
Fewer car rentals
Some Americans may be able to afford the increase in car rental prices; however, others will not. This could lead to more business for the rideshare industry or more people simply opting to use their own vehicles for transportation.
At a time when everything from interest rates to meat prices are rising, car rentals may find themselves on the back-burner.
