Uber Is Killing Cabs in This One Big Way

Business travellers are increasingly using ride-hailing services like Uber or Lyft, taking business away from traditional taxi companies and car rentals.

Ride-hailing services make up nearly half (46%) of all rides according to expense management company Certify, who reviewed more than 9 million receipts and expenses by corporate travellers. The number of trips taken with services like Uber and Lyft nearly doubled in 2016’s first quarter compared with the same period in 2015.

“Uber’s continued success and Lyft’s recent growth with the business travel market is really being driven by three factors: cost, convenience and customer satisfaction,” said Certify’s CEO Robert Neveu in a statement. “These ride-hailing services have perfected a model that allows employees to choose the kind of experience they want when traveling for business while also saving the company a great deal of money in the process.

According to Certify, the number taxicab rides fell from a 37% share for taxis in the beginning of 2014 to 14% today.