New Year’s Day Self-Drive Car Rental Prices Surge Significantly

With the 4-day New Year's holiday in 2026, many families are planning to rent self-drive cars for trips or to visit their hometowns.

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According to Mr. Nguyen Van Long, Director of Sigo Vietnam Co., Ltd., the extended 4-day New Year holiday was only recently confirmed, leaving many travelers unable to secure affordable flight tickets. As a result, a significant number of customers have shifted to self-drive car rentals, particularly those planning shorter trips. However, the volume of rental inquiries so far remains comparable to the same period last year. “We’re hopeful that as the holiday approaches, more customers will reach out to book rentals,” Mr. Long expressed.

A sharp increase in rental deposits has significantly reduced car rental demand.

Mr. Le Khac Hieu, Director of Bonbon Mobility Vietnam Co., Ltd., reported that current rental bookings account for 40%-50% of the total fleet, up from 30% last year. In Ho Chi Minh City, most rentals are for trips to Phan Thiet, Vung Tau, and the Mekong Delta. In Hanoi, customers primarily rent cars for nearby northern destinations. “The increase in holiday bookings is attributed to our expanded market reach across multiple provinces,” Mr. Hieu noted.

Self-drive car rental apps indicate a substantial 40% decline in demand compared to two years ago, driven by factors such as concerns over automated fines, longer rental requirements versus short-term customer needs, soaring rental prices (up 50%-100% from regular rates), and deposit fees that have doubled to quadrupled.

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