An investigation by the Federal Trade Commission found U-Haul communicated with rivals Budget and Penske to keep the companies from undercutting each other and offering lower prices.

 

One memo from U-Haul’s top executive, Edward Shoen, read: “Budget continues in some markets to undercut us on One-Way rates. Either get below them or go up to a fair rate. Whatever you do, LET BUDGET KNOW. Contact a large Budget Dealer and tell them. Contact their company store and let the manager know.”

-Noel Brinkerhoff

 

U-Haul and its Parent Company Settle FTC Charges That They Invited Competitors to Fix Prices on Truck Rentals (Federal Trade Commission)

(Federal Trade Commission)

U-Haul to Settle with Trade Agency in Case on Truck Rental Price-Fixing (by Edward Wyatt, New York Times)