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Car Rental Prices in United States Could Double by August 2021

According to reports, this summer is going to be a scorcher when it comes to the prices of the car rentals in the United States of America, and according to the data collected by the Jefferies, a investment bank in New York, the average daily cost for renting a car in the country has been increased to a record of 63.75 dollars in May 2021, which is 50 percent up in some of the cases as the economy of the country is returning back to normal.

According to the data on summer reservations, the demand for the car rentals in the country is increasing rapidly, along with the for the month of August has already been trending over 100 dollars a day, which several of the vacationers in the country could possibly expect to pay more amount than double, what the vacationers would have got before the novel corona virus pandemic.

Hamzah Mazari, a analyst at Jefferies has predicted, they might be seeing the consumers might resort to a mass transit, and the analyst has also been collecting the daily vehicle rental prices from all the big car rental companies in US including Enterprise, Hertz and Avis. He said, the median price for the Avis car rental has been increased to 68.07 dollars in May 2021, which is 50 percent higher than the company was charging its customers in the month of May between the period of 2015 to 2019.

The hike in the car rental prices in US comes as the demand for the car rentals in the country has increase and also because of the newly vaccinated people of the country are now ready to travel again.