With many families across the UK looking at heading abroad for the first time in years, this is the latest price rise that the public have faced in recent months.
The figures, provided by This is Money and icarhireinsurance.com, revealed that the average cost to hire a medium-sized hatchback this July will cost around £675 for a week. For the same type of vehicle in July 2019, the average price for a week was £339.
And for those family looking at hiring a vehicle to travel across the UK – the price has soared by 190% over the same time period.
The data was taken from six of the most popular car rental firms – Avis, Budget, Enterprise, Europcar, Hertz, and Sixt.
Industry experts have blamed the ongoing shortage of new vehicles on the market today and price inflation across many related sectors.
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The data from the study came from six of the most popular destinations on Europe – Barcelona, Faro, Geneva, Milan, Munich, and Nice.
The Swiss city saw the largest price increase of 164% – a staggering price rise of £580 – followed by Barcelona which was a 142% increase of £357.
The smallest percentage increase was for the Italian city, Milan, which saw its 2019 price for a week’s rental of £364 increase by 70% to £617.
If you are looking at driving in Europe, we have important tips and guides that can help, as well as important details around European Breakdown Cover.
Regarding the UK price increases, the study looked at three of the country’s largest cities – London, Glasgow, and Manchester.
When comparing the average cost to rent a hatchback car for 30th July to 6th August 2022 with 25th July to 1st August 2020, the price increased by 190% to an incredible £818 for a week.
London saw a rise of 119% from £339 to £743; Glasgow experienced an increase of £624 to £917; and Manchester saw the biggest growth in price of 269% to £793.
With the cost of motoring is escalating rapidly, with ongoing fuel prices and people looking at heading abroad on a road trip – this isn’t good news for many hopeful holidaymakers.
This is because although there is a cost for hiring a car, there are many other factors that could see you pay even more for your week’s rental – whether in the UK or in Europe.
Do you need to hire a vehicle?
Although there are many benefits to hiring a vehicle for your next vacation – there is another option.
Following the price rises for hiring a car, you could always drive your own vehicle. Driving abroad can be a great way to save money.
However, failing to ensure you have European Breakdown Cover in place could mean that your holiday could end up costing even more.
European Road Trips
Whether you decide to hire a vehicle or drive your own to Europe, be sure to check out our guide’s on the best European road trips, as well as some important information on driving in specific countries on the continent. We also offer temporary car insurance to cover you if you borrow a car from a friend or family member, for driving in countries in the EU, EEA, and Switzerland.
Are you planning on heading abroad this summer? Will you be renting or taking your own car? Let us know in the comments below.
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