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Car cos. slashing rates. (News).

Publication: Business Travel News
Publication Date: 10-FEB-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Car rental suppliers in recent weeks have undercut non-negotiated rates from even last year to compete with low-cost car rental suppliers that have been pushing rates downward in response to flatlined demand.

In conducting research to be published later this month in the annual Corporate Travel Index, Business Travel News found that January-February car rental rates posted on the Apollo global distribution system for 100 U.S. business destinations averaged nearly $20 cheaper this year than last year.

"There have been price reductions" in response to competition from lower-cost rental companies, said Hertz spokesperson Rich Broome. "We saw the likelihood that rates were going to slip below 2002 levels. We're in a...

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