Another blow for British holidaymakers as the cost of hiring a car abroad has TRIPLED in the three years since the outbreak of Covid
- It will cost 110% more than in 2019 to rent a car from July 30 to August 6
- The website of the insurer iCarhireinsurance studied six rental companies in 12 countries
- The current crisis started in 2020 when rental companies started selling cars to survive
British holidaymakers face a further blow this summer as the cost of hiring a car abroad has tripled in the past three years since the Covid pandemic.
According to a study by iCarhireinsurance, it will cost 110% more than in 2019 to rent a small family car from July 30 to August 6.
Studying six rental companies in 12 countries, the insurer and comparison site also found that renting a car in Florida rose from £231 to £650, an increase of 181%.
Similarly, in the most expensive location analysed, Geneva, the price increased by 164%, from £353 to £933.
British holidaymakers are taking another hit this summer as the cost of hiring a car abroad has tripled in the past three years since the Covid pandemic
The current cost and availability crisis began in 2020 when the travel industry shut down and rental companies started selling cars to survive.
Industry estimates indicate that U.S. rental companies sold a third of their cars in the first year of the pandemic, while European firms cut their fleets by more than half.
Many companies have been unable to replace their fleets due to inventory issues, which has also led to a significant increase in costs.
The fleet of the American rental company Hertz had 481,000 vehicles in March, compared to 700,000 in 2019.
Alex Hasty, of comparison site Compare the Market, told The Times: “Arranging your car rental abroad before you go could save you time, money and stress.” Queuing at a rental car desk when you arrive, rather than comparing rental car companies before your trip, could mean you’re not getting the best deal.
The current cost and availability crisis began in 2020 when the travel industry shut down and rental companies started selling cars to survive
“You may also have to settle for what is available, rather than a car of your choice. By planning your trip in advance, you can determine a fixed cost, choose a suitable car, and any extras you might want.
“Soaring car rental prices are set to hit holiday budgets hard wherever you go this year,” says Rory Boland, editor of Which? Travel Guide.
In the worst-case scenario, he says, some areas may run out of cars altogether.
Booking early can alleviate the situation, as even today’s prices can look like bargains by the time the school holidays arrive.
Another tip is to pay in full when booking. Indeed, rental companies can take reservations now for the cars they hope to have delivered in the next few months.