Drivers warned as prices of Easter car rentals soar and they face car shortages
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Compared to pre-pandemic figures in 2019, Easter car rental prices have gone up by 135 percent with the possibility of some locations completely running out of hire cars. According to Which?, the average Easter rate for a booking so far in March 2022 is £280 per week.
This in turn marks a rise of 135 percent from the pre-Covid (March 2019) rate of £119.
And, according to the provider the prices are expected to keep rising.
Motorists might also be forced to pay much more depending on the demand in their location.
According to Which?, there have already been a number of “extraordinary” Easter booking prices including a £600 per week Fiat Panda in Mallorca, a £734 per week Skoda Octavia in Rome, and a £764 per week Ford Escape in Florida High.
The high prices are the result of a shortage of new cars.
During the Covid pandemic, car hire companies sold off vehicles in order to survive.
However, they have been unable to restock their fleets ever since due to the ongoing semiconductor shortage that has resulted in car manufacturers slowing or even halting the production of new vehicles.
The combination of Covid and global car manufacturing shortages has created a perfect storm in the car hire industry.
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The pandemic caused a complete collapse of demand for hire cars as overseas travel came to a standstill.
Rental companies have now missed nearly two years of normal-level trading and need to recoup some of their losses.
Experts believe that it is likely some locations will have no cars to rent at all during peak periods in 2022.
Providers reported running out of cars in some locations for the February half term, earlier this year.
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