Amex GBT Predicts Stable Car Rental Prices Amid Regional Variations

According to American Express Global Business Travel's (Amex GBT) latest Ground Monitor report, car rental prices in Europe are expected to remain stable over the next 12 months. The report, published on August 24th, predicts that rental demand will stay firm in main European markets, and improved supply will keep a lid on prices.

France and Spain are forecast to have the lowest year-on-year changes in rental prices, which are predicted to 'stay basically flat.' Moderate rises are expected in the UK (0.6-1.3%), Germany (1-2%), and Scandinavia (1-2.5%).

In contrast, car rental prices in North America are forecast to rise by 1.5-2%, while Brazil and Chile are likely to see increases of 2-4% year-on-year. Australia is expected to experience some of the largest rises, with Amex GBT predicting increases of 3-3.4% due to price hikes in mining areas where competition between suppliers is limited.

Sara Andell, director of consulting strategy at Amex GBT Consulting, commented: 'Looking globally, we expect prices to be stable, with moderate increases in geographies where local conditions, including taxes and the availability of cars to rent, could push up prices.'