ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Rental Car Customer Satisfaction Drops as Vehicle Shortage Causes Prices to Surge, J.D. Power Finds

Average Customer-Cited Price-Per-Day Rental Fee Climbs 58% in Past Nine Months

Overall customer satisfaction with North American airport-based rental car companies declines significantly this year as a global shortage of new vehicles caused prices to increase 58% during the last nine months of the study. The J.D. Power 2021 North America Rental Car Satisfaction Study,SM released today—which tracked customer experience with rental car companies between August 2020 and August 2021—­finds that the average customer-cited price-per-day rental fee rose to $90.40 by the summer of this year. During the 12 months of the study, overall customer satisfaction declined a total of 11 points (on a 1,000-point scale).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211013005052/en/

2021 North America Rental Car Satisfaction Study (Graphic: Business Wire)

2021 North America Rental Car Satisfaction Study (Graphic: Business Wire)

“Rental car companies have been facing significant challenges, both in terms of vehicle supply and staffing—and a combination of rising costs and long lines at the airport is having a negative effect on customer satisfaction,” said Michael Taylor, travel intelligence lead at J.D. Power. “The fact that the average price per day for vehicle rental is now above $90 sounds almost hard to believe, but I’ve seen instances in which a subcompact—booked a month in advance—cost $140 a day. Even when customers are aware of the macroeconomic challenges, their personal experiences quickly outweigh economic theory, and the result is lower customer satisfaction.”

Study Ranking

Enterprise ranks highest in overall customer satisfaction, with a score of 861. National (852) ranks second and Alamo (837) ranks third. Overall customer satisfaction for the industry is 830, down from 841 in 2020.

The 2021 North America Rental Car Satisfaction Study is based on responses gathered from September 2020 through August 2021 from 4,279 business and leisure travelers who rented a vehicle at an airport location from August 2020 through August 2021.

For more information about the North America Rental Car Satisfaction Study, visit https://www.jdpower.com/resource/north-america-rental-car-satisfaction-study.

To view the online press release, please visit http://www.jdpower.com/pr-id/2021133.

About J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.

About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.