According to a new study, it’s easy to get into the car rental business.
And the results are telling.
A recent survey by the research firm Expedia found that more than 1,300 car rental and rental car companies in the U.S. charge customers $1.50 for every dollar they spend on car rental.
That compares with a typical price of about $1 per hour.
And as for the car rentals themselves, Expedia said it found that drivers in the top 10 percent of car rental revenue earned more than $1,000 per month.
The study did not break out the fees and services that car rental drivers paid.
“There’s a lot of overlap between the price of car rentals and the price consumers are paying,” said Robert Zimbalist, Experia research director.
“It makes sense to try and figure out what the price is and what the service is.”
In a statement to The American Thinker, Expresso, one of Expedia’s major car rental providers, said the company was working with Expedia to better understand the impact of the study.
Expedia, which is owned by Google, has been trying to expand its reach as a car rental company, expanding to the suburbs and cities in recent years.
The company has also invested in mobile applications for car rentals, offering a service that allows customers to book a car and rent it for the week from a designated pickup point.
The Expresso app is available for iPhones, iPads and Android devices.
Expresso is now offering the app to rental car owners as well, though the company said its service is only available for car rental customers.
Exposed car insurance company Expedia has a different perspective.
In a new statement, the company explained that the survey found that “the vast majority of the top companies in car rental are not offering a car insurance option for customers.”
Instead, Exposed said, the survey shows that car insurance is “very scarce in the market.”
In fact, Expanded Insures has the lowest coverage rate among the top 5 car rental car rental firms in Expedia data.
Expanded also doesn’t have any of the insurance options that Expedia does, the statement said.
Expired car insurance, meanwhile, has the best coverage rate in Expresso data, at 94 percent.
In the Expresso survey, Expired also said it was working to improve its customer experience.
It said it has improved its customer service and “made our rental cars easier to book.”
But the company doesn’t appear to be doing any of that.
The survey found Expresso’s average rate for car insurance was $2.90 per mile.
Expressed differently, Expostraises average rate is $1 a mile.
In addition, Expedas car insurance rate was about one-third the average rate of Expresso cars, the report found.
Expedista, on the other hand, said it is working on a solution for customers.
It did not immediately respond to requests for comment.