European car rental prices expected to soar this summer

www.travelsupermarket.com

Car hire prices at popular summer holiday destinations in Europe, including coastal Spain, are as much as twice last year’s rates, as companies find they are low on vehicles due to the economic downturn. Visitors to the US should also expect significant rate increases, according to new figures.

Peter Smith, the travelsupermarket.com travel expert, said: “It is all to do with supply and demand.”

Rental car companies typically renew their fleets by selling off older cars and buying new ones, but in the credit crunch it has become more difficult to buy and sell vehicles. As the recession took hold, many operators reduced their fleet sizes, in response to declining travel demand.

Smith noted: “So instead of increasing their vehicle fleets, they have just retained their cars. At Easter, there were a lot of places where cars were just booked out, so you have to book early.”

He is advising consumers to use a car rental comparison website and to book early to secure the best possible price.

Smith went on to say: “Also, ensure the vehicle you are booking is the right size – don’t just book your Ford Ka when you are going to have four suitcases!”

Thanks to www.myfinances.co.uk for the above quotes, for more information on this article please visit their website.

www.travelsupermarket.com