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Uber see a decline in business travel for the first time

24 Oct 2017

 

Reports from Certify , a management software company which tracks business expenses and travel receipts, suggests that Uber may be seeing a decline in business passengers.

After an extremely rocky 12 months for the ride-hailing app, it seems finally they may be seeing a negative effect from it all.

As reported in cnet  there's been an average 1 percent decline in the ground transportation market. Although 1 percent may seem a very small percentage, it's important to note, this is the first time Uber have seen a decline in passengers.

According to Certify Uber owned 55 percent of the ground transportation market in the second quarter but in the third, that percentage dropped to 54 percent. It has also claimed, in Uber's hometown of San Francisco, they saw an 8 percent drop in the market, their biggest loss so far.

SpendSmart, who Certify's data comes from, is based on more than 10 million business traveler receipts and expenses. They have been tracking Uber's data for the last 3 years.

To add to Uber's problems, their main competitor Lyft, has seen an increase in the market share of up to as much as 3 percent.

Uber's new CEO Dara Khosrowshahi always knew he had a tough task to turn Uber's tarnished image around, but with a decline in passengers hitting the company for the first time, things may be even harder than he could've imagined. 

 

 

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