Since early 2020 the Covid Pandemic has reduced the demand for rental cars around with world with less travel and country or state lockdowns. As a result rental companys have reduced their inventories. The restocking of these rental fleets has been further hit by the global computer chip shortage causing delays in the supply of new vehicles. Less supply and greater demand has pushed rental rates up. Over time as rental fleets build up again and travel resumes pricing will return to or get closer to pre-pandemic levels.