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No one wanted to miss the opportunity of tapping the existing need of commuters and the paradigm shift in their behaviour. With the current trend of taxi services in India, it is expected that many of the car buyers would prefer to low down on their expenses and not buy cars which includes maintenance, insurance etc, and commute via taxi to the places they would want to.
With the market analysis projecting the Taxi Aggregation to be leading the demand in the automobile segment, it is expected that players like Mahindra will be interested to foray into taxi business and achieve economies of scale sooner than other newer players. Also an added advantage of being a car manufacturer comes handy too!
Speaking on the development Anand Mahindra said “The days of personal commuting may be limited, especially in congested cities and metros. Electric vehicles will be the preferred choice for the ride aggregators, as demand for petrol and diesel cars starts ‘tapering off. There will soon be a drop in the purchase of private cars specifically in segments such as “plain-vanilla sedan” which has emerged as a “threatened species.” Hassles such as parking, insurance, maintenance, etc, will mould people towards using a ride-hailing or shared cab service in the near future.
There will be a levelling off, or a sinking in the personal commuting segment. There will be a dramatic shift in the customer segment. Overall, will it go down? Hopefully yes, as we want less cars on the streets.”
Taxi aggregation and Electric Vehicles seems to come with a mutually rewarding package. With the Government’s intent of pushing Electric Vehicles to demand and seeking support from the private players, it becomes all the more convenient for players like Mahindra, Ford and Maruti Suzuki to try and dip-test their abilities as Taxi Services.
When International players like Tesla motors which still have to set their base are planning to map India and China as their biggest buyers in days to come, companies which are home grown will surely would like to experience it once.
A brief peek into some of the hailing taxi apps across the globe.
|Taxi Startups||Data Essentials||Valuation|
|Uber||Areas of Operation: 66 Countries and 500 + Cities | Funding Raised so Far : $ 16 Bn | Active Ridership : 40 Million Users | Daily Rides : 5 million | Milestone : 5 Billion rides – 20th May, 2017||$66 Bn|
|Lyft||Areas of Operation: US | Funding Raised so Far : $2 Bn | Active Ridership : 5 Million Users | Daily Rides : 0.2 Mn||$5.5 Bn|
|Ola||Areas of Operation: India| Funding Raised so Far : $1.3 Bn | Active Ridership : 25 Million Users | Daily Rides : 0.75||$5 Bn|
|Grab||Areas of Operation: 31 Cities in Southeast Asia| Funding Raised so Far : $1 Bn | Active Ridership : 11 Million Users | Daily Rides : 0.85|
|Didi Chuxing||Areas of Operation: China| Funding Raised so Far : $7.4 Bn | Active Ridership : 42 Million Users | Daily Rides : 7 Million||$36 Bn|