Posted September 30, 2018 11:14:13The number of car rentals in metro-Detroit has increased to a record high of more than 1,300 this month, according to a new report by the Associated Press.
The news agency reported Monday that the number of new car rentals has increased by 5% in the past two weeks, from 9,200 in the previous week to 15,100 in the latest quarter.
That’s a jump of more 50% compared to the same period last year, when the city saw a decline of about 9%.
Detroit has a population of nearly 6.5 million people, according the Associated News.
Car rental companies that have been offering car rentals have been able to increase their rental rates to make up for the drop in new car purchases, AP said.
The rental companies, however, are being forced to cut prices because of the recession, the Associated Associated Press reported.
One of the largest rental companies is United Auto Rental.
The company is offering a car rental of up to $400 per month at its Westport and Lansing locations, according a company statement.
The rate will rise to $500 per month for cars rented in Detroit.
United Auto Rotor’s new car rental is up from $350 a month in September, and the company said it will be charging about $20 for every $1.50 a mile that the vehicle travels.
The rates are subject to change, United Auto Rentals said.
Rental companies have been reporting a sharp drop in the number and price of cars that are rented in recent weeks.
In late September, Detroit saw an 11% drop in car rentals, AP reported.
The Associated Press was not able to independently verify the data, but several people familiar with the industry told AP that car rentals are declining in the city.
In the last three months, car rentals dropped by 6%, from 9.7% to 6.8%, according to data provided by Rental Express.
That’s the highest drop of any metro Detroit area, the company told AP.