Ride growth of the nation's two largest app base based cabs Ola and Uber has decreased considerably in the last one year. Both have been promoting new verticals such as increasing efficiency, customer discount and driver discount reduction and food delivery from last one year.
The number of daily rides of both companies rose but their growth decreased to 20% in 2018 according to the data of two industry analysts and three company executives. In all segments, including taxi, autorickshaw and share cab, their ridings are 35 million daily. Their ride growth increased by 57% to 28 lakh riders daily in 2017, while in 2016, 90% of the growth reached 19 lakhs.
In August 2016, every week of Uber, 55 lakhs rides which means 7.8 million every day were taken.In July 2017, Uber had said that their ride has reached 94 lakhs per week i.e 13 lakhs daily. Accordingly, its growth is up 67% in 11 months.
Ola has not made their figures public.
In the US, the growth of Uber and its competitor lift has been at the lowest level of many years. Siddharth Pahwa, former CEO of Industry Expert and Meru Cabs, said, "In 2017-18, both companies (Ola and Uber) started to control the cash and increased the average price from 10 rupees per kilometer to 15 rupees." Before that, people who spent about Rs 3-4 per kilometer shifted to the bus, the metro. They were never real customers.
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