Those who want to rent a car for the holiday season this year may be in for sticker shock.
Travel site Kayak reports that the average cost of rental cars is up 75 percent from 2019 and 66 percent from 2020.
Jonathan Weinberg, the founder and CEO of Autoslash.com, also said the average price for a rental car nationwide is about $100 more per day than it was to rent a car in 2019.
In in-demand markets, like New York, renters could even pay as much as $300-a-day to rent a car, he told the New York Post, as AAA expects 48.3 million people will drive for the Thanksgiving holiday and 4.2 million people will fly.
And a study from Finance Buzz found that the average cost of renting a sedan in New York City is $261.17 per day while the average price of an SUV in the city comes in at $392.30.
The increased prices come as rental car companies are struggling to meet with a pent-up travel demand after selling off much of its inventory during the pandemic.
Compounding the issue, Americans are facing sky-high gas prices and supply chain issues that are slowing down the production of new cars.
Those renting cars for Thanksgiving may experience sticker shock as the the average cost of rental cars is up 75 percent from 2019 and 66 percent from 2020
The high prices come amid a global supply chain crisis which has slowed down the production of new cars
Many rental car companies sold off much of their stock in 2020 to cut costs as COVID-19 related travel restrictions kept…
