Car rental prices are shooting up while travelers have fewer choices to choose from during the holiday season. The shortage can be traced to a rise in holiday travel, which is near pre-pandemic levels even with COVID cases rising.
Companies tried to restock to meet demand, but were unable to do so because of a chip shortage.The average daily rental rate in the U.S. in December was $81, up 31% from 2020, according to travel company Kayak, the WSJ writes.Hertz and Enterprise Holdings Inc. both told the WSJ that they are "taking steps to alleviate constraints" by moving stock and staff to high-demand locations.
Both companies also said they were trying to raise inventory by "non-traditional" means such as buying from dealerships instead of directly from manufacturers.Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commentingThe answer to the biggest problem facing the Pittsburgh Steelers is easy. “We've got to score points,” coach Mike Tomlin said.
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