FX Excursions

FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

Uber and Lyft Take a Bite Out of the Rental Car Industry

by Megan Hill

Sep 28, 2017
Feature

Travel expense management software provider Certify released its SpendSmart report last month, which analyzes business travel spending.

The report shows ride-hailing companies Uber and Lyft picked up an additional 2 percent of ground transportation traffic in the second quarter of 2017.

Uber now commands 55 percent of ground transportation overall.

The report also shows for the first time in its history, taxis’ modal shares fell 8 percent. The car rental industry showed a similar decline, dropping 3 percent to 29 percent overall.

“The revolution in ground transportation we’re seeing today led by Uber and Lyft has far reaching implications for the future of corporate travel,” said Robert Neveu, CEO, Certify. “Business travelers’ move toward greater personalization and convenience may have started with ride-hailing, but it’s not likely to stop there. Mobile technology brought us into a new age, and the expectation and ability to cater to the preferences of the individual is driving a cultural shift that will continue to affect dynamic change throughout the industry.”

Lyft grew in every market except Miami, where numbers were flat for the second quarter. Uber lost between 1–4 percent in every city but Chicago, where it gained 1 percent. Despite that drop, Uber stayed in first place as the most expensed brand processed by the Certify system with nearly 9 percent of all expenses.

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FX Excursions

FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

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