Have you ever thought of travelling to a new city without any pre arranged taxis? Well if this was asked in 2006, the answer would be ‘NO’. But today with the mushrooming car rental industry, this is no more a dream. Ola, Uber, Meru Cabs and others have made life so comfortable and convenient for the users. At present the Car rental market in India is __million and is poised to grow by $7 billion (If possible let’s give Indian currency figure) by 2020 which shows the potential of this burgeoning market.
The market as present is leaded by two major players – Ola Cabs and Uber Cabs which are fighting for the respective market share. For both of them 60% of the major revenue comes from 7 major cities (Delhi, Hyderabad, Kolkata, Chennai, Mumbai, Bengaluru), emerging cities like Pune, Indore, Jaipur, Ahmedabad contributes for 40% of the users. At present Ola is handling approx.7.5 Lakhs booking per day whereas Uber accounts for 5.8 Lakhs booking. Ola has a fleet size of 3.25 lakhs and Uber has a fleet of 2.5 lakhs and both are targeting 1 million bookings per day by the first quarter of 2016.
But what has made this market so big- Just the competitive pricing? Or is it their increase in fleet or facilities offered to the clients. Well, a big credit can also go to the online coupons and attractive promotions that have lured consumers to opt for these cabs offering never before prices or an unforgettable experience.
In a survey by leading Coupons Company, Shop Pirate Coupons among Ola and Uber cabs users, more than 62% car riders use the promo codes and ecoupons to travel within the city and approx 24% uses these coupons for outstation travels. There are few very interesting facts shared in the survey like ridesharing is most preferred by young adults (ageing between 28-35 years), corporate and surprisingly college students. The survey also give insight about what makes these taxi services so popular among the drivers’ community and how it is opening doors for more employment. The survey gives an interest insight about these corporate giants’ developments and visions. All these facts and topics are covered through an informative infographic. Just read the same for more details.