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Aya Lin · · 1 min readIn brief: Growth of Ola, Uber in India plateaus over last six months
- Ola and Uber India’s daily rides went from 3.5 million to 3.65 million in the last six months, representing a small 4% increase, The Economic Times reported, citing industry analysts and company insiders.
- As a result, consumers are facing far higher wait times ranging from 12 minutes to 15 minutes, as well as fare hikes of around 15% to 20% during non-peak hours in major cities.
- “The market is facing a saturation for point-to-point cab-hailing, and over the last six months the growth of the industry has been in single digits,” said Jaspal Singh, co-founder of Valoriser Consultants, a transportation-focused company.
Editing by Dante Gagelonia
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