“Usually car rental is an afterthought,” said Benjamin Tuttle, a computer-assisted design programmer from Minnesota, who was taken aback when Hertz quoted him a price of $240 per day to rent a sedan to tour Colorado’s Rocky Mountain National Park.
The industry backfire illustrates that the post-pandemic recovery, while strong, may not be entirely smooth. As more retail businesses reopen, many report trouble hiring enough workers to cope with surging demand. Manufacturers complain that raw materials are scarce – a semiconductor shortage that hobbled auto production is making it hard for companies like Avis to restock.
“The covid shock was unlike anything we have experienced before. As we go into the recovery phase, we’re going to see friction and disruption in the normal flow of economic activity,” said Kathy Bostjancic, chief U.S. financial economist for Oxford Economics. “It’s going to be a bit erratic and disrupted, but the pace of