Online cab players in 2016 completed nearly half a billion rides with 250% y-o-y growth in India
Advertisement
Advertisement
2016 was a challenging year for the online cab aggregator industry from an external perspective, with multiple regulatory challenges and labor issues.
ALSO READ: Why Vh1 Supersonic was the festival to beat in Pune
However, consistently growing demand from customers enabled the industry to tackle all these challenges successfully and emerge successful at the end of the year compared to the beginning, by delivering 500 Mn rides in 2016, up from 130 Mn in 2015 registering a staggering 250% year-on-year growth in the country, according to Redseer Consulting.
ALSO READ: Booking.com is Providing Startups in Tourism Sector a chance to go to Amsterdam
Advertisement
1) The industry experienced a 9% month-on-month average growth in the year 2016
2) The customer adoption increased with cheaper options like the ride at INR 6/km and share rides driving up customer adoption.
ALSO READ: Uber partners with Reliance JIO to allow payments with JIO Money
3) Demonetization did not affect the industry much and drove up non-cash transactions by 20%
4) Options like Rentals and Outstation Taxi add to the online cab aggregators’ portfolio
Advertisement
5) States putting a blanket ban on surge pricing affected payouts to drivers and operations which was the only downside to the growth streak.
Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market