Sixt predicts further increases in rental car prices

by time news


An employee of the car rental company Sixt polishes the company logo on a rental car in a branch of the company in Munich.
Build: AP

It is not just electricity, gas and grain that are currently becoming considerably more expensive. The car rental company Sixt also expects significantly higher prices for rental cars in the coming months. Several reasons come together.

DThe rental car prices in Germany will continue to rise, according to the market leader Sixt, because the rental companies are short of new vehicles. “There will continue to be a high demand with a simultaneous shortage of supply,” said Sixt board member Nico Gabriel to the industry journal “Automobilwoche” according to an advance notification on Sunday. Accordingly, he expects significant price increases in the coming months. In addition, the prices of new cars have risen by almost 30 percent in ten years, which also entails higher tariffs.

Prices have already been increased significantly this year. According to figures from the Federal Statistical Office, the increase in August compared to the same month last year was more than 50 percent. Many people have switched to cars because of the pandemic. In addition, the leasing companies reduced their fleets during the crisis.

Many car manufacturers, on the other hand, cannot keep up with production because important electronic parts are difficult or impossible to deliver. For all these reasons, the Federal Association of Car Rental Companies estimated in September that the rental companies were short of around 75,000 cars.

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