Uber says it has over 80% of the ride-hailing market in the U.S.
Uber says it has over 80% of the ride-hailing market in the U.S.
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Thomson Reuters
Uber and Lyft have long been battling it out for ride-hailing dominance in the US. But Uber thinks it’s winning by a landslide, according to a new report.
According to Bloomberg’s Eric Newcomer, Uber told investors in a call on Friday that it has between 84% and 87% of the US market share.
Uber declined to comment on those numbers, but a source familiar with the matter told Business Insider that that percentage is an average of Uber’s market share nationwide. In cities like San Francisco and Los Angeles, Lyft and Uber are much closer in terms of market share, but in cities like New York, Uber is beating Lyft by a much wider margin. Between April 2015 and April 2016, Uber completed 168,528 per day compared to Lyft’s 26,783 trips, according to Morgan Stanley.
There are also several cities in the US where Uber is the only ride-hailing app currently operating, which also skews that percentage.
Both Uber and Lyft have ramped up spending and offered subsidies in recent months in an attempt to win over more riders and drivers. Uber lost $1.2 billion in the first half of 2016 — in part due to its war with Didi Chuxing in China — and Lyft posted an operating loss of $360 million last year in its efforts to gain market share nationwide.
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Business
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August 25, 2016 at 01:58AM
