With thousands of New Yorkers commuting all over the city, it is no question that ride-sharing companies such as Uber and Lyft have made a fortune in rides over the past few years. With these two companies being a household name on how to get around, one would think that taxis will soon die out. Guess what New Yorker’s, taxi’s are still on top as the way to get around.
The apps in ride sharing are growing every day, but with NY taxi’s doing roughly around 400,000 rides a day, according to Morgan Stanley financial services, it is not outshining the more common and affordable way to get around. According to Stanley, Uber does about 168,000 rides, while Lyft does 26,700 rides a day.
Other apps such as Via and Juno are also on the rise. What makes Via different is that it offers “shared rides”, meaning it charges a flat rate rather than adding on those $2.50 for every fifth of a mile on a taxi. Also, Via will only take you somewhere if it is going in a similar direction for a flat rate. The company came in fourth behind the taxis, Uber, and Lyft. Although it came in fourth, it beat out all three companies in how many rides per vehicles, making roughly about 108 trips per week, while one taxi driver makes roughly 90, and Uber and Lyft don’t make the cut to be compared.
According to a research done by Morgan Stanley, in April 2015, taxis were the leading form of car transportation, coming in with 84% of rides, Uber with 15%, and Lyft and Via with 0.50%. Now in 2016, taxi’s are still leading, but declined with 65% of rides, Uber with 27%, Lyft with 4%, Via with 3%, and Gett with 1%.
In conclusion, ride sharing companies are growing, but New Yorker’s are still going on with a traditional way to get around. Subways also have not died down as they are also a main form of transportation in the city. With both still being our main way of transportation, it seems as if cabs buses, and subways will be around for a while.
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