Visitors to Ireland are unlikely to see any easing of car rental prices, with the supply of new cars to the hire drive market down 80.9% on 2019. Photograph: iStock.
The cost of hiring a car overseas has risen dramatically since pre-pandemic times. Restrictions introduced after Covid hit in the spring of 2020 hit the travel sector and forced car hire companies worldwide to sell a significant percentage of their fleets just to stay afloat. They have faced enormous difficulties trying to restock their cars.
With the overall global car market suffering a supply shortage, hire drive companies now find themselves at the back of the waiting list.Even with this supply problems felt by many regular buyers remain severe, who are being told that any new car ordered now will not be arriving until next year. According to new figures from the Society for the Irish Motor Industry , new car registrations are up 3.2 per cent on last year despite a fall of 10 per cent in May compared to the same month last year.New vehicle registrations continue to remain challenging, with a slowdown during the month of May, reflecting the international supply chain issues. New car registrations year to date are over 20 per cent behind pre-Covid levels.