Increases are highest at U.S., European airports

Hertz announced that it is implementing wide-ranging price increases for car rentals in North American and Europe. The increases should be in place in all affected markets by November 10, the company said. “Retail car rental rates have been increased by an average of over 10 percent in North American airport markets, 5 percent in U.S. off-airport markets and approximately 10 percent in European airport and downtown markets,” Hertz said, although it added that the company’s negotiated contract rates are not affected. In Europe, the increases apply in Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Spain, Switzerland, and the U.K., Hertz noted. The company cited a number of “inflationary trends” in its business for the increase, including vehicle maintenance and repair costs, depreciation, facility expenses and commodity prices.