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Lyft now has 35% of Market Share in the US ride-sharing market [CNBC]

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SmittenKitten
2096 Rider
 Posted 4 years, 3 months ago

So this may explain the recent panic mode that Uber has been operating under.  

  • Lyft says it has 35 percent of the U.S. ridesharing market and enjoys majority share in "multiple" markets.
  • The ride-sharing battle is heating up as Uber moves past last year's turbulence and both companies try to rein in costs.

Excerpt:

Deirdre Bosa | "For the first time, Lyft is disclosing internal market-share numbers, and they show its momentum isn't letting up after it capitalized on Uber's disastrous 2017.

Lyft says it has 35 percent of the national ride-sharing market, up from 20 percent 18 months ago. That would represent growth of 75 percent.

Lyft credits more activations of passengers and customers and greater brand awareness. The start-up says its market share is over 40 percent in 16 U.S. markets and that it enjoys majority share in "multiple" markets, although it wouldn't disclose where.

"The last 18 months have been a period of incredible, sustained growth for Lyft," CFO Brian Roberts said. "There are no signs of that momentum slowing down."

As Lyft and Uber battle for market share, they've had to spend big on subsidies to drivers and promotional discounts to riders. It's a race-to-the-bottom strategy that has seen both companies burn through record amounts of cash and struggle to reach profitability.

https://www.cnbc.com/2018/05/14/lyft-market-share-051418-bosa-sf.html

Comments

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    chewy
    82
     4 years ago

    For the longest time Uber has had this PR struggle, but it hasn't seemed to really affect their business. Seems that tide is finally turning.

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      chicago49
      253 Driver
       4 years ago

      Also consider that they've had a huge leadership shakeup in the last year. Maybe the new team and the work towards the new image just isn't cutting it... Maybe all of their gross business practices before now were working for them...

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        kias_revenge
        133 Rider
         4 years ago

        This is actually a really good point. The whole frigging business has changed recently. And now they are going down. Maybe Kalanick was the best thing for the company after all.. Still a jerk though!

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    frank3
    53 Rider
     4 years ago

    I would love to know the markets where they hold a majority.

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    dishesswishes
    64
     4 years ago

    I have multiple friends now who naturally talk about ordering a Lyft - I feel like I used to only hear "Uber".

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      scotchyscotchyscotch
      34
       4 years ago

      Yeah I hear the same. A couple of years ago no one really talked much about Lyft. Now I hear of people using them all the time. They are like the little engine that could and I think it is finally paying off.

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    brownbear
    599 Rider
     4 years ago

    nice to see uber having to fight a little.

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      MMorriSS
      49 Rider
       4 years ago

      A little?  This is a losing battle.   35% and its current trend is no laughing matter for Uber while they seek for next valuation and considering for IPO.

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    CurbDigger
    168
     4 years ago

    Wow.  What a shot accross the bow?

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    LCarpenter
    221 Rider Driver
     4 years ago

    More than 40% in many markets???

    "Meanwhile, Lyft has grown quickly, adding more than 160 cities last year, benefiting from Uber’s tarnished image and as a later entry into markets where people are already familiar with ride-hailing services, eMarketer said. On Monday, Lyft said it has 35 percent of the national ride-hailing market, and in 16 U.S. markets its share exceeds 40 percent."

    https://www.firstpost.com/business/ubers-is-losing-market-share-to-lyft-series-of-scandals-from-sexual-harassment-to-bribery-allegations-does-it-in-4469901.html