On Thursday, global ride-hailing app Uber said in a report that it has more than 50% market share in India, based on its internal gross bookings estimate. The newspaper report has quoted an Uber spokesperson saying that the company facilitated more than 14 million rides a week last year, compared to 11 million in 2018.
Homegrown cab aggregator Ola, responding to ET’s query on Sunday, said it had disclosed in regulatory filings for the year ended March 31, 2019 that it recorded 1.5 billion bookings on the platform. This roughly translates to over 28 million weekly bookings and includes autos, bikes, cabs, as well as for all markets including international and food delivery.
Ola is present across 12 mobility categories and in more than 250 cities and towns, the company said in a statement.
Being the market leader in India is significant for both players.
While India is the home market for Ola and holding that spot while managing its profitability is important as it prepares for a public market listing next year, for Uber India continues to be a key market for the company to drive growth in terms of the number of rides even though the country may not be a significant driver of its top line in dollar terms.
At the same time, the growth of India’s core mobility offering has slowed over the last few years, with both players significantly raising prices and reducing customer incentives on the platform.
Source: The Economic Times