Ride-Hailing Services Continue to Increase in Business Travel
Ride-hailing services (Uber, Lyft) now account for 46% of all ground transportation transactions for business travel, according to the latest Certify SpendSmart Report for first quarter 2016.
A customer requests a ride through Uber's mobile app. Photo courtesy of Uber.
A customer requests a ride through Uber's mobile app. Photo courtesy of Uber.
In the first quarter 2016, ride-hailing services (Uber, Lyft) gained an additional 4% in total share of rides from fourth quarter 2015. According to the Certify SpendSmart Report for Q1 2016, ride hailing now accounts for 46% of all ground transportation transactions — taxi, car rental, and ride-hailing.
The SpendSmart Report analyzes the latest data and analysis of U.S. business travel expense spending trends.
Uber takes the top spot in the ride-hailing category with more than 43% of ground transportation transactions. In second place, Lyft has increased in business travel by growing 44% from Q4 2015 to Q1 2016, according to the report. Lyft now represents almost 2.5% of all ground transportation transactions.
Car rental gained 2% in Q1 2016, according to the report. This increase wasn’t enough to take the top spot from ride-hailing, but car rental now accounts for 40% of all ground transportation compared with 38% in Q4 2015.
Taxis dropped 14% of total ground transportation, according to the report. This is the first time that taxis registered below 20% in Certify SpendSmart data. The taxi segment has seen a 23% decline in the last two years, says the report.
When it comes to ratings, users gave the top rates to ride hailing with Uber at 4.7 and Lyft at 4.5. Car rental came in second with a rating of 4.1, followed by taxi at 3.8, according to the report.
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