Car rental rates in popular holiday destinations have skyrocketed. Double or even triple compared to two years ago is no exception. Demand is increasing, but there is hardly any supply. “1500 euros to drive a Volkswagen Golf in Mallorca for a week and it is also paid.”
Toon Foreman
There was a good reason the rental companies sold a portion of the fleet last year: to survive. Businessmen and tourists customers disappeared in one fell swoop and no one knew when they would be back. Demand for car rental has fallen so badly that the rental giant Hertz was forced to file for bankruptcy in America in May of last year. Hundreds of thousands of cars have been sold and pending billions of dollars in new car orders canceled. Only now Hertz is recovering a little.
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