![]() ![]() While Uber’s price escalation succeeded in boosting its mobility revenue – ridesharing demand is inelastic, at least at historical price levels - it also depressed consumer demand growth. ![]() ![]() This is equivalent to an annual price increase of 17.5% per year, considerably exceeding the CPI gain of 4.5% per year over the same period. According to data provided to the author by Second Measure, Uber’s average US ridehail fare per trip jumped by 30% from the beginning of 2018 to Q3 2019, and then, according to data from YipitData, by another 41% between Q3 2019 and Q3 2022 – for a total of 83% over the entire 45-month period. Uber began raising US ridehail prices at a double-digit percentage clip in 2018 as the company prepared for its 2019 IPO, and has continued hiking prices ever since. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |