For the first time, Uber passed car rentals as business travelers' top mode of choice for getting around town, according to a new report.Expense management company Certify analyzed more than 30 million transactions in 2015 and found that in the fourth quarter, 41% of rides taken by corporate trekkers nationwide were with Uber. That was in comparison with 39% of rides taken in rental cars and 20% of rides in taxis during that three-month period.
Press Ready Quote
"While the ride sharing option is here to stay and will continue to grow, ride sharing companies still have not figured out a way to convert ride sharing revenues in profits. In making this statement, though, I am relying on dribs and drabs of information that are coming out of the existing ride sharing companies, almost all of whom are private."
Meagan Keara - Senior Analyst
Right now, Uber and other ride sharing platforms don't have to consider their drivers as employees, but that could change. On top of that, there are constant regulatory hurdles that add to expenses. "Seattle's decision to let Uber/Lyft drivers unionize may be the precursor of similar developments in other cities and higher costs for both companies.
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