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More road warriors ditching car rental for ride sharing
Monday, 22 Apr, 2016
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It is not only traditional taxis that are feeling the pinch from the rise of Uber and Lyft.
The ride-hailing start-ups have consolidated their lead over the car rental industry as the preferred ground transportation service for business travel, according to expense management firm Certify.
During the last quarter Uber and Lyft had a combined 46% share of ground transport transactions expensed through Certify, which is the country’s second biggest expense management company.
Car rental business now has 40%, it said, marking a fall of 15% in the last two years.
This actually marks a slight increase of 2% compared to the last quarter of 2015, when ride hailing surpassed car rental for market share for the first time ever.
"It really comes down to convenience. The ability to hail and pay efficiently — that convenience factor is huge, and we’re seeing it change the habits and behaviors of our users," noted Robert Neveu, president of Certify.
Certify analyzed millions of travel expense receipts for the Certify SpendSmart Report.
Traditional taxi firms continue to be the biggest losers with just 14% of the market.
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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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