Lyft Releases an Economic Impact Report - The Results May Surprise You!

Posted by: felicia Jan 19, 2018


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Lyft released a report addressing their economic impact for 2017 – and the results may surprise you! The rideshare company claims that they completed 375.5 million rides for the year at a 130% growth from the previous year.

Additionally, the report stated how Lyft impacted personal car ownership trends. According to Lyft, almost 250,000 passengers dropped their personal vehicles due to the availability of rideshare services. Further, 50% of users used their cars less because they chose to use Lyft instead.

On the topic of self-driving cars, 83% of passengers surveyed by Lyft stated they would try a self-driving vehicle once they become available. This number is quite high considering the initial backlash the idea of the autonomous vehicle brought to the public on the topic of safety concerns.

Lyft driver earnings also increased in the past year, as well as driver tips. In areas where Lyft exists, passengers have spent $ 2billion more which has helped fuel local economies. Lyft’s round-up-and donate program that allows riders to round up the price on their ride to donate to charity, collected $3.7 million last year.

The future of ridesharing is uncertain, especially when some studies show that services like Lyft increase traffic in the short-term. However, with the introduction of self-driving cars and more innovations in the industry, we may start to see the transportation system evolve completely, making a positive impact on cities both in the United States and across the world.

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