According to an article by James Hickman in The Street Uber and Lyft continue to steal business traveller share from taxis and car rentals.
The rise of Uber as the preferred transportation option of business travellers continued in the third quarter of 2015, according to expense-management software company Certify. Taxis lost roughly 10% market share during the quarter while rental cars saw an ebbing in the rate of share declines to 2% after a 10% decline in the second quarter. Taxis have now fallen to a 22% share of business travellers’ wallets in the third quarter, from 37% in the first quarter of 2014. Ride-sharing has gone to 34% from 8% in the same 18 months (see chart below).
Share of Business Ground Transportation by Model
Courtesy of Certify
Lyft continues to grow the fastest, albeit off of what remains a much smaller base of business.
The top five cities for ride-share growth were Boston (74%), Atlanta (32%), Los Angeles (29%), New York City (28%) and Dallas (26%).
The rapid growth of ride-sharing owes to a formidable combination of higher customer ratings and lower costs. Uber received an average rating of 4.69 out of 5 compared to 3.70 for taxis, at an average cost per trip of $27.61 compared to $35.28, respectively.