A survey conducted this week by Abrams Consulting Group (ACG) showed some startling changes to the cost of car hire in comparison to last year. The results showed that on average the price of car rental has risen by more than 50%.

car rental prices increased by 50% in US this year

car rental prices increased by 50% in US this year

As part of ACG’s findings they revealed that the cost of hiring a standard small car for one week, booking a week in advance would set the customer back $298. When ACG delved into the rental costs of the same vehicle for August of this year, they found that the price had risen to $430 for a week’s hire.

One of the main reasons cited for the dramatic increase in rates is the dwindling numbers of hire vehicles. Due to the economic recession car hire firms have found it difficult to find finance for new vehicles this year, so the old cars have not been replaced which results in a much few number of vehicles being available for hire.

However the car hire bosses don’t want to see their profits take a nose-die despite the smaller fleet, and are instead raising the prices of the vehicles they do have to cover the shortfall.

Car hire customers are being advised to shop around before sighing up for car rental. Price comparison websites are recommended for exploring your different options as many companies have special offers and discounts which could save you a considerable amount on your car hire.

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