The average daily price of a car in the coming summer months has increased by 5% compared to the previous year, calculated EasyTerra. This slight increase marks a sharp break from the past four years, when prices doubled in many places.
Tjeerd Kramer, owner and founder of EasyTerra, suspects that the relationship between supply and demand in the automotive market is the driving force behind the stabilization of rental prices. “The shortages have decreased, the cars can be ordered again,” says Kramer.
Big local differences
While prices are stabilizing around the world, there are huge local differences. In Curaçao, for example, a rental car costs 61% more per day than last year, the largest increase EasyTerra has seen this year. However, with an average daily price of 74 euros in absolute terms, Willemstad is still one of the cheapest destinations to rent a car this summer, according to research data from EasyTerra.
Kramer suspects that the rapid increase is related to the end of the corona measures on the island. ‘People dare to travel again. The island is busy again and apparently the local car fleets were not replenished in time.’ Price fluctuations are increasingly extreme on the islands, Kramer knows. These are small markets where the threshold for replenishing rental fleets is higher.
Despite this, the biggest price drops this year have been seen in the United States. New York and Los Angeles saw daily rentals fall the most. Here the daily price of a car is only two thirds of last year.
Highest average daily prices (summer 2023)
Ponta Delgada, Portugal: 159 euros
Reykjavik, Iceland: 149 euros
Bastia, France: 136 euros
Dublin, Ireland: 127 euros
Orlando, United States: 123 euros
Lowest average daily prices (summer 2023)
Johannesburg, South Africa: 47 euros
Willemstad, Curaçao: 74 euros
Tirana, Albania: 75 euros
Oslo, Norway: 76 euros
Athens, Greece: 77 euros