Market Overview

New Data Show Uber Is The Most Dominant Ride-Sharing App

New Data Show Uber Is The Most Dominant Ride-Sharing App

There’s no question that Uber and other ride-sharing companies have completely transformed the transportation business. However, the latest data from New York City’s Taxi & Limousine Commission (TLC) highlights just how rapidly these services are growing.

According to the TLC, Uber now makes nearly 170,000 trips per day, well more than rivals Lyft (27,000), Via (16,000) and GETT (5,000). The growth numbers are even more impressive. Uber’s year-over-year growth in the month of April was 121 percent, while Lyft upped its number of trips by 871 percent and Via grew by 298 percent.

Morgan Stanley analyst Adam Jonas points out that there’s more behind the growth numbers than it may seem.

“Ride sharing trips are still growing significantly, but the growth in ride sharing appears driven more by growth in the number of drivers rather than increased utilization (trips per driver),” Jonas explained.

Related Link: Tesla Spends $6 On Advertising Per Vehicle; The Industry Average Is $1,000

The total number of vehicle dispatched by Uber was up 102 percent year-over-year in April, but trips per vehicle were up just 10 percent.

Despite the major disruption in the space, the total number of taxi trips in April still dwarfed the number of ride-sharing trips at 11.1 million. The number of taxi trips per day was down 9 percent year-over-year.

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Posted-In: Adam Jonas GETT Lyft Morgan StanleyEducation Travel Tech General Best of Benzinga


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