Rental car prices increase as shortage continues

Pine Belt

HATTIESBURG, Miss. (WHLT) – Many people who are looking to rent cars for vacation are noticing high prices this year. Renting a car could cost more than $300 a day at some companies.

According to AutoWeek, rental car prices have increased by more than 30 percent since 2020.

“It’s a booming business right now. Everybody needs a rental car they want to keep miles off there own, so they don’t have to pay as much maintenance,” said Mona Bullock, a rental car adviser with Hattiesburg Cars.

“Since January, we have had lot more people come in for rental cars, and our prices did actually recently go up about a month ago just due to high demand and trying to stay under competition but still have a good price for our customers.”

Bullock said people are paying more than the sticker price for rental cars, and prices are rising because of less inventory.

“People are paying higher. They do stay out consistently, I would say they have about 20 to 30 cars out a week,” she said.

A spokeswoman for Enterprise Holdings said she expects the increase in car rentals to continue through the summer.

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