While there are still bargains to be had with the price of flights between UK and Spain, many travellers are finding that any savings they make are being gobbled up by the soaring costs for car hire, with prices increasing, in some cases, by hundreds of pounds as they continue to increase in the UK, across Europe and further afield

Indeed car hire prices can now be greater than the costs of flights and even accommodation.

The problem is being caused by a global shortage of cars which has driven up prices of lease vehicles by hundreds of pounds, piling more misery on holidaymakers gearing up for summer trips who are already facing airport chaos and record fuel costs.

Last summer, it cost £166 to lease a car in Alicante for seven days but this year that price has shot up £126, or 80 per cent, to £292, while prices in Ibiza have risen by 50 per cent, from £305 to £452.

The rocketing prices have been attributed to the fact that many hire car companies ditched their fleets during the global Covid shutdown and now that a global computer chip shortage is slowing down car manufacture they did not forsee that they would have such a struggle to buy new fleets.

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