Help power Marketplace this winter when you support the show today. Donate Now!

Car rental companies still battling against shortages

Amanda Peacher Aug 3, 2021
Heard on:
HTML EMBED:
COPY
A Hertz car-rental agency in Manhattan. Spencer Platt/Getty Images

Car rental companies still battling against shortages

Amanda Peacher Aug 3, 2021
Heard on:
A Hertz car-rental agency in Manhattan. Spencer Platt/Getty Images
HTML EMBED:
COPY

The car rental crunch does not seem to be letting up, with travelers still facing rental shortages, high prices, and limited options for summer travel.

Jonathan Weinberg recently booked a rental car for his daughter for getting around Seattle. 

“And you know, normal prices in Seattle would be like $30 or $40 a day,” he said. They paid more than $100 a day.

Weinberg follows the market closely because he heads up the car rental information site AutoSlash. He said car shortages are especially bad in vacation spots like Hawaii.  

Kauai resident Garrett Ward saw an opportunity there. He listed his personal cars for rent on a car-sharing app. 

“With the rates right now, it’s totally worth it,” he said. Ward works in tourism, so he said he was glad for the extra cash after a rough 2020. 

“It’s been nice after a year off, of not making money,” he said.

Rental companies are still trying to replenish vehicle stock after selling some cars during the height of the pandemic. Weinberg with AutoSlash said rental companies can’t buy enough new cars because of chip shortages and other supply problems.  

“We don’t expect it to get any better, at least until the fall … but really not until next year,” he said.

Only then should we expect to see prices fall back to normal. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.