Car rental rates in the US are expected to increase 2.5% by March 2025, according to the Ground Monitor 2024-2025 report from American Express Global Business Travel (Amex GBT). The report describes how the global car rental sector appears to be stabilizing after more than three years of volatility; as a result, price rises should moderate in the coming 12 months across most locations. With automotive supply chains recovering, the costs of buying and operating cars should also moderate.

Outside the US, the report forecast a 3.4% rise in Canada and increases in Latin America ranging from 1% in Brazil to 10% in Chile. Europe rates are also forecast to rise in many key business destinations, including 5% in Germany and 6% in the UK. Increases in France are predicted to range between 3% and 4% for smaller vehicles and drop as much as 15% for large and premium categories due to falling demand for these cars.

Gerardo Tejado, senior vice president professional services, Amex GBT, said: “Ground transportation plays a crucial role in enabling businesses of all sizes, across many sectors, to operate efficiently — and is a key factor in the journey experience for travelers. With the data-driven analysis in this report, plus insights into the trends and sourcing strategies from Amex GBT Consulting, Ground Monitor provides valuable guidance to help corporate customers build their best ground programs.”