Car rental prices in Ireland are skyrocketing, according to recent reports, forcing some tourists to reconsider visiting Ireland this year.
“Analysis shows car rental costs have at least tripled since before the pandemic; in some places it has quintupled,” RTÉ Radio’s Drivetime recently reported.
High car rental prices are having a ripple effect on Ireland’s tourism industry, which is trying to recover from the worst of the pandemic.
“We are hearing stories of some people canceling their holidays,” Paul Kelly, CEO of Fáilte Ireland, the country’s tourism development authority, told RTÉ on Monday.
“We’ve had feedback from places like the bed and breakfast sector and others where they’ve had cancellations because people who came to visit them couldn’t get a car.
“And of course we’ve had issues where people say the prices are very high. It is a worldwide phenomenon. »
On May 17, as more people spoke out about the price spike, Paul Redmond, CEO of the Car Rental Council of Ireland, said in a statement: “Hire companies have been forced to sell their stock of vehicles during the pandemic.
“In 2022, inventory levels were around 50% of what they would have been in pre-pandemic years. In rebuilding inventory levels, car rental companies are facing a lack of supply of new cars manufacturers in the wake of the pandemic.
“Global car production has slowed significantly during the pandemic and there is now a huge backlog of new vehicle orders. The problem is compounded by component supply issues for new car production.
“High demand and supply shortages have resulted in more expensive and fewer new cars being available on the Irish market.
“While current forecasts for the number of overseas visitors suggest that overall car rental demand can be met, the factors described above are likely to result in some shortage of rental cars during peak periods. It will take time for car rental companies to rebuild their car stocks back to pre-pandemic levels.
“In the meantime, tourists should book their cars early to get the best rates. I understand that similar issues exist in other European tourist destinations.”
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