Massive exodus to Texas causing rental truck price spike in California

(Texas News Radio) — It’s becoming more expensive for Californians to move to Texas.

Well, the physical move itself is getting pricier.

KSEE-TV reported that truck rentals from major companies like U-Haul and Penske cost about $2,500 more from California to Austin than rental from Austin to California.  For Budget, that difference was more than $3,000.

The TV station looked at trips from Fresno to Austin for February 27th and what it would cost to rent a 10-foot box truck from U-Haul, Penske, and Budget.

Trips from Fresno to Austin ranged between $3,700 and $4,200.  However, rentals in the opposite direction cost between $1,000 and $1,400.

The reason for the difference?  The companies told KSEE-TV it’s all supply and demand, as Penske explained in a statement:

Penske Truck Rental currently has more customers leaving California than moving back into California, which has been consistent throughout the pandemic period. This has caused a fleet imbalance due to the lack of return flow of rental trucks back into California. Thus, Penske ends up with an over-supply of trucks in Texas and not enough trucks in California.