Report: Rental car prices – and interest – reach record highs for July 4th weekend
Interest in rental cars for July 4th weekend is up 73 percent; prices are up 89 percent (and as much as 300+ percent in some U.S. cities).
STAMFORD, Conn., June 22, 2021 /PRNewswire/ — Both rental car prices and demand in the first two weeks of June are up more than 70 percent for July Fourth weekend compared to the same dates in 2019 and as much as 300+ percent in some places, leaving many U.S. cities with car rental shortages and many Americans without affordable options to choose from.
While July Fourth weekend is historically among the most popular (and most expensive) weekends of the entire year to rent a car, this year has reached record highs with rental car prices in hot vacation spots like Kahului, Anchorage and Jackson averaging between $306 and $436 per day.
To help combat the rental car shortage and ensure Americans don’t cancel their July Fourth travel plans because of it, KAYAK, the world’s leading travel search engine, is working with its partner, Turo, the leading car sharing marketplace, to give away four car shares from June 22nd to June 23rd for use on July Fourth weekend in the U.S. cities where demand is highest. Available cars include two of the new C8 Corvettes, a Porsche Panamera, and a Ford Mustang Mach-E.
“We’ve seen unprecedented U.S. demand for rental vehicles this summer and supply isn’t keeping up,” said Steve Hafner, CEO of KAYAK. “But consumers can now use KAYAK to easily compare traditional rentals and car sharing services to find the best price.”
In response to COVID-19, many rental agencies downsized their fleets and are now having a difficult time ramping back up due to shortages in the car industry and a huge uptick in demand for rental vehicles. Turo (and car sharing in general) is uniquely positioned to alleviate the rental car crunch because they leverage existing, underutilized cars. It is a win-win for both guests looking for cars to be reunited with friends and family and hosts looking to earn extra income. And with KAYAK being one of the first metas to offer car sharing on-site in the U.S., we’re making sure travelers can compare all their options in one place.
The sweepstakes will be hosted on KAYAK’s Instagram channel from June 22nd through June 23rd for Turo cars from July 2 through July 5. To enter, users will need to follow @KAYAK on Instagram and comment which of the four cities (San Francisco, Boston, Las Vegas or Chicago) they’re interested in winning in on the official #KAYAKSavesTheFourth Instagram post. Users will need to be approved to drive through the Turo app to be eligible to win and will only be eligible to win a Turo car in one city.
Among the Most Popular Cities to Rent a Car This July Fourth Weekend in Mainland U.S. (July 1 – July 5, 2021) Include:
- Denver, CO
- Los Angeles, CA
- New York, NY
- Orlando, FL
- San Diego, CA
- Las Vegas, NV
- Miami, FL
- Chicago, IL
- San Francisco, CA
- Boston, MA
KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world’s leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car, cruise, or vacation package. We’re also transforming the in-travel experience with our app and new accommodation software. For more information, visit www.KAYAK.com.
Turo is the world’s largest peer-to-peer car sharing marketplace where car owners can become entrepreneurs, forging their path towards financial empowerment. A pioneer of the sharing economy and travel industry, Turo is a safe, supportive community with operations in the US, Canada, and the UK. Whether you share your extra car to make ends meet or are looking to start a small car sharing business, hosts can share virtually any car to get their entrepreneurial wheels turning.