In the rental car industry, pricing plays a crucial role in determining the overall profitability and success of these businesses. The economics of this industry largely depend on factors such as demand, supply, and competition. During peak seasons or holidays, demand for rental cars surges, leading to higher prices. Companies must also consider their operational costs, such as vehicle maintenance and insurance, when setting their prices. In addition, competition forces rental car providers to offer competitive rates or risk losing customers to their rivals.
May, 23 2023