Global Car Rental Prices to Rise Modestly Amid Geopolitical Uncertainty

American Express Global Business Travel (Amex GBT) has released its latest car rental price forecast, predicting stable to moderate increases in global rates over the next 12 months.

The report notes that taxes and availability of cars to rent could push up prices in certain geographies, while geopolitical upheaval and commodity price uncertainty may also contribute to higher costs. However, an improved supply-demand balance in rental car fleets is expected to offset some of these factors.

In North America, car rental rates are projected to increase by 1.5% to 2% year-over-year for the U.S. and Canada, which is comparable to last year's forecast for the U.S. but lower than previously predicted for Canada.