Uber Overtakes Taxis in Business Travel For the First Time
The Uber v. taxi battles goes corporate and the ride-sharing app wins.
A new report Thursday confirms what corporate travel departments have known for some time: business travelers love Uber.
In its second quarter report, the expense management system provider Certify found that Uber made up 55% of ground transportation receipts, while taxis accounted for 43%. It was the first time in Certify’s history that expenses for the ride-sharing service surpassed those for traditional taxis.
The figures reported in the second quarter represent a big leap from the prior quarter. In that three-month period, 53% of transportation expenses came from taxis, while 46% were attributable to Uber.
“It’s clear that the sharing economy is here to stay for business people,” Robert Neveu, CEO of Certify, said in a statement. The company, which gathers its data from users of its management systems, has also seen an uptick in the use of Lyft and Airbnb.
“We believe this market shift is based on both convenience and price, since these newer services are typically more cost-effective compared with traditional vendors,” Neveu said. “Established travel providers will need to adapt quickly or face further market share erosion to the sharing economy.”