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Lyft gaining ground on Uber in business travel market share
Lyft is gaining traction in business travel market share from ride hailing rival Uber.
The use of Lyft by road warriors nearly doubled in the first quarter of 2018 compared to a year ago according to expense management service provider Certify.
In a new Q1 2018 SpendSmart report, it says Lyft has a 19% share of the business travel ride-hailing market, up from Q1 10% in 2017.
In 2014, it has just 1% of the market.
Still, there is a long way to go yet for Lyft to seriously challenge Uber, which holds about 81% market share of business travel, although it has been steadily falling from a high of 95% in Q1 2016.
"Lyft’s jump is the biggest surprise of Q1. As Uber experienced change in its senior leadership team and challenges in various markets, Lyft stayed the course and gained market. It will be very interesting to see if Lyft is able to maintain this level of usage in the business travel space," said Robert Neveu, president and CEO of Certify.
Overall, Lyft and Uber dominate business traveler ground transportation with a combined 70.5% of all ground transportation receipts.
The rental car market has 23.5% and conventional taxis account for just 6%.
San Francisco is unsurprisingly the most ride-hailing friendly city with 99% of the market.
Dallas, LA and Boston are also among the most popular for ride hailing among business travelers.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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