The post-pandemic recovery pattern of the car-rental industry in Europe is seeing plummeting rates. But in South Africa the opposite should be expected.
Europe and US slash prices
Insights from UK-based Consumer Association Which? derived from thousands of airport car-rental bookings in 13 locations, 12 in Europe and one in the US, showed that average weekly car-rental rates for the upcoming Easter season have plunged.
Which? looks at typical British holiday destination – in Corfu, rates decreased by 47% (compared with last year). The weekly rental rate in Madeira fell by 35%, while in the Canary Islands it dropped by 33%. The only locations surveyed to see an increase this year were Rhodes and Nice.
High prices after COVID are attributed to the industry’s recovery after the pandemic, when vehicle supply shortages and high demand caused rental rates to skyrocket. While the current price drop indicates more normality in the recovery, it’s important to note that the average…
