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Posts Tagged ‘ride sharing news’

Taking Uber to Work Cheaper than Driving Yourself

Study shows in some markets ride-sharing costs less for daily commute.

by on Feb.05, 2018

A new study suggests that it's cheaper to Uber to and from work than to drive your own car.

A new study suggests that in some major metropolitan area, among them Los Angeles, Chicago and Detroit, it’s cheaper to drive to work using Uber than it is to drive a personal automobile.

Aside from the cost of a trip on Uber or Uber Pool, which varies from region to region, insurance and parking are the key factors in driving up the cost of commuting driving 10.4 miles-one way to work, according to the study from NerdWallet.

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“NerdWallet examined data from a variety of sources to compare the cost of commuting each week via ridesharing service Uber vs. a personal vehicle in the 20 largest U.S. metropolitan areas by population, to see if owning a vehicle for work is cost-effective. (more…)

Chinese Ride-Sharing Company Eyes Move into Mexico

If Didi goes to Mexico, it would mark second showdown with Uber.

by on Dec.08, 2017

Chinese ride-sharing giant Didi is contemplating a move into Mexico where it will compete with Uber.

A report out of China indicates Didi Chuxing, the largest ride-sharing company in China and perhaps the world, is preparing to expand internationally for the first time by setting up shop in Mexico.

Didi basically ran Uber out of the Chinese market where Uber sustained losses totaling roughly $2 billion. If Didi moves into Mexico it would set the stage for a huge clash where Uber has established a large presence with more than 7 million users spread across 45 cities.

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Speculation about Didi’s plans, like Ford Motor Co.’s efforts to partner with Alibaba, underscore the growing influence the Chinese have on the global automotive industry. During the next decade ride-sharing companies are expected to become the major buyers of new vehicles around the world. (more…)

Lyft Tracking to Double Ridership in 2017

Company adds former Obama adviser Jarrett to board.

by on Aug.02, 2017

Valerie Jarrett, a former adviser to the Obama Administration, has joined the Lyft board of directors.

Lyft has carried more passengers during the first six months of 2017 than in all of 2016, according to new statistics released by the company, which has succeeded in spreading its service to dozens of additional cities in the U.S. and capitalizes on a goody-two-shoes image that has separated it from archrival Uber.

The company noted it has expanded into 360 communities and that 80% of the U.S. population can use the service now.

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Ridership at Uber, the leader in ride-sharing services, continues to dwarf Lyft’s, which recorded 162.5 million customer trips through the end of June. Uber has reported that it has given more than 5 billion rides worldwide since 2010. (more…)

Ride-Sharing Giant Uber Posts King-Size Loss

Deficit is nearly half its total Q3 revenues.

by on Dec.20, 2016

Uber posted an $800 million loss in the last quarter on revenue of $1.7 billion.

U.S. ride-sharing leader Uber posted an $800 million loss for the third quarter on $1.7 billion in revenues, a loss actually lowered by the company’s decision to sell off its unprofitable Chinese operations.

Despite a modest profit during the first quarter, Uber’s losses came to $2.2 billion for the first nine months of 2016. But the company’s revenues have also continued to grow as more users discover the service. Net revenues for the third quarter hit $1.7 billion – excluding payments to drivers – and $3.76 billion through the end of September. A report by Bloomberg estimates Uber is targeting $5.5 billion for all of 2016.

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Uber exited China earlier this year, selling off its money-losing operations there to local competitor Did Chuxing. But The San Francisco-based ride-sharing firm is continuing to run deep in the red in the U.S., in part due to increased competition from Lyft and other ride-sharing services. (more…)

Uber Making Rides Safer with Selfie Security

Facial recognition software makes match possible.

by on Sep.23, 2016

Uber is now using facial recognition software to ensure the driver picking up riders is actually the driver on the Uber profile.

Uber is upping its game when it comes to the safety of its drivers and riders with a new system that requires drivers to confirm their identity before each shift by taking a selfie.

Called Real-Time ID Check the selfie taken is matched to a photo on file to ensure the driver providing rides is actually driver on the account. While the incidence of driver identities being stolen is pretty low, the results in the rare instance it does happen could be disastrous, Uber officials noted.

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During a trial run with “thousands of drivers” more than 99% of drivers using the system were able to match their selfie to their on-file photo. Officials note that in the cases where there was a problem, most of the time it was related to the quality of the selfie, such as a picture taken in low light. (more…)

Lyft Founder Predicts Death of Car Ownership by 2025

Zimmer believes people in large cities will give up having a car.

by on Sep.22, 2016

Lyft co-founder John Zimmer, right, suggests that car ownership could be extinct in large cities by 2025.

The idea or concept of privately owned cars in trucks is headed for history’s scrap heap, according to the co-founder of the ride-sharing service Lyft.

John Zimmer, Lyft’s co-founder, predicted in a blog post this week that private ownership of cars could disappear from some major cities as soon as 2025. He noted that the what it costs to own a car, i.e. fuel, maintenance, insurance, parking, etc., is just more than some folks want to deal with.


“As a country, we’ve long celebrated cars as symbols of freedom and identity. But for many people — especially millennials — this doesn’t ring true. We see car ownership as a burden,” he wrote, observing that statistics show that for the average American the cost of car ownership runs approximately $9,000. (more…)

Tata Teams Up with Uber in India

Drivers can get special pricing, financing and insurance from Tata.

by on Jun.29, 2016

Ratan Tata's Tata Motors announced a new partnership with Uber in India. The deal will give drivers special pricing and financing on Tata cars.

India’s influential and multi-faceted Tata Group it’s partnering with Uber Technologies, the growing ride-sharing giant, to provide Uber drivers with special pricing and financing benefits from the giant conglomerate.

Under the partnership, drivers looking to operate Uber cars can buy Tata vehicles such as the Indica and Indigo models from Tata Motors and also gain access to flexible and customized financing solutions from Tata Capital and Tata Motors Finance.

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The drivers will also be able to buy insurance from Tata AIG, said Madhu Kannan, member-Group Executive Council and group head for business development and public affairs for Tata Sons. (more…)

BMW Gets Scoop of Ride-Sharing App

Automakers continue scrambling to get piece of ride-sharing pie.

by on May.26, 2016

BMW now has skin in the ride-sharing game with its investment in California-based Scoop. The terms of the deal were not announced.

BMW has joined the list of automakers investing in car sharing and ride sharing apps.

BMW i Ventures, the German luxury carmaker’s New York-based venture capital fund, has announced a strategic investment of an undisclosed size in San Francisco Scoop Technologies, Inc., creators of the carpooling mobile application “Scoop.”

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Since launching in August 2015, Scoop commuters have taken more than 40,000 trips, offsetting nearly 500,000 in commute mileage for riders. Originally launched in Pleasanton, California, Scoop now also operates commute trips into San Francisco, Palo Alto, Sunnyvale and North San Jose, California. (more…)

Apple Invests $1B in Chinese Ride-Sharing Company Didi

Tech giant extending reach into auto industry.

by on May.13, 2016

Apple invested $1 billion in China's Didi, a ride-sharing company that competes with UberChina.

Didi Chuxing Technology Co. said Friday it reached an agreement with Apple to make a strategic investment in the Chinese ride-hailing company, according to the Didi also is significant investor in Lyft of San Francisco as is General Motors.

Earlier this year, GM invested $500 million in a strategic alliance Lyft. “We see tremendous potential in these technologies and the long-term benefits for our customers and communities around the world,” noted GM Chairman and CEO Mary Barra in the automaker’s “Sustainability” report.

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Apple CEO Tim Cook has indicated that Apple is interested in taking a leading role in what is shaping up to be a significant shift in the car business. In addition, the revenue potential in the automobile business is too large for a company such as Apple to ignore, analysts suggest. (more…)

GM, Lyft Preparing Autonomous Fleet Testing?

Automaker may push to use Bolt EV for self-driving fleets.

by on May.05, 2016

Could this be the first approved autonomous vehicle on U.S. roadways? GM prepped the new Bolt EV to accept self-driving technology.

It appears that Google won’t be the only company looking to test autonomous vehicles on U.S. roads, General Motors and Lyft may be looking to put several self-drivers into service in the months ahead.

The two companies are planning to test a fleet of autonomous vehicles that will likely include the new Chevrolet Bolt EV as they move forward with their efforts to create a driverless ride-sharing fleet of cars, according to multiple news reports.

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No cities or vehicles beyond the possibility of the Volt have been selected, according to multiple reports. The Bolt would likely be part of the plans as the EV was designed to be used for testing fully autonomous technologies. (more…)