Rental car availability plummets while prices continue to climb
Car rentals in Canada have gone up more than 30 per cent in the past year which is mostly linked to supply and demand.
As Maggie Boyer stood in line to rent a car this morning at Halifax Stanfield International Airport, she said the cost to rent a car has gone up noticeable.
"It’s a lot more expensive than it was a year ago," said Boyer. “Today we are paying for a week, seven days in total about $1700.”
Rental car companies are running low on vehicles. Assembly lines are dealing with a shortage of key parts like semiconductors, combined with low inventory brought on by the pandemic.
"A key challenge right now continues to be the global chip shortage and other supply chain constraints that are impacting all industries, including new car availability," said Lisa Martini from Enterprise Rent-A-Car, in an email to CTV News. "We remain optimistic and are confident in our availability going into the summer peak season and holidays."
Market research specialist Margaret Chapman said expensive or unavailable rental cars are changing the way people are choosing to spend their money.
“They are curbing their trips and they are doing them shorter or doing them less frequently because it’s expensive," said Chapman. "Everybody is noticing prices are increasing across-the-board."
Tourism Nova Scotia recently launched online solutions for people to travel more affordably.
Chapman said according to her research, travellers are saying, "now I can’t afford to do that road trip I’ve been aching to do."
Chapman also said consumer confidence continues to dip especially for tourists, because of rental car cost and availability plus overall inflation issues.
CTVNews.ca Top Stories
Serial sexual offender linked to unsolved 1970s homicides of four Calgary girls, women
An investigation into unsolved historical homicides from the 1970s has linked the deaths of two girls and two young women in and around Calgary to a now-deceased serial offender.
Woman with liver failure rejected for a transplant after medical review highlights alcohol use
For nearly three months, Amanda Huska has been in an Ontario hospital, part of it on life support, because of severe liver failure. Her history of alcohol use is getting in the way of her only potential treatment: a liver transplant.
Dabney Coleman, actor who specialized in curmudgeons, dies at 92
Dabney Coleman, the mustachioed character actor who specialized in smarmy villains like the chauvinist boss in '9 to 5' and the nasty TV director in 'Tootsie,' has died. He was 92.
Information commissioner faces $700K funding shortfall, says system is 'overwhelmed'
Canada's information commissioner says her office is facing a $700,000 funding shortfall that could impact its ability to investigate complaints about government transparency and accountability.
BREAKING Craig Berube named as next head coach of Toronto Maple Leafs
The Toronto Maple Leafs have named Craig Berube as their new head coach.
Backlash over NFL player Harrison Butker's commencement speech has reached a new level
The NFL is distancing itself from controversial comments by Kansas City Chiefs kicker Harrison Butker during a recent commencement address.
B.C. man 'attacked suddenly' by adult grizzly near Alberta boundary: RCMP
A B.C. man is recovering from multiple injuries after he was "attacked suddenly" by an adult grizzly bear near Elkford Thursday afternoon.
$500K-worth of elvers seized at Toronto airport
Fishery and border service officers seized more than 100 kilograms of unauthorized elvers at the Toronto Pearson International Airport on Wednesday.
Australia's richest woman seeks removal of her portrait from exhibition
Art is subjective. And while many artists long to share their work with the world, there's no guarantee that the audience will understand it, or even like it.