Travelers are paying an average of 30% more for their car hire in August of this year compared to the same time last year.
A report by carrentals.co.uk found that car rental prices were on the increase worldwide. The report attributed this to the fact that car rental companies have cut their fleet sizes during the recession as banks have not been able to provide the necessary funding for the replacement of older vehicles and the expansion of fleets. The shortages have led to a price increase.
The 40% increase in Spanish car hire prices is one of the sharpest rises, eclipsed only by Turkey with 76%, the US with 48% and Croatia with 46%.
Travelers have again been advised to book their car hire early to avoid the high rates and ensure they get the car they are after.
