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Lyft continues to eat into Uber’s business

Lyft continues to eat into Uber’s business
[Photo: www.quotecatalog.com/Flickr]

Lyft is getting a bigger portion of corporate travel tabs. The company is now pulling in 19% of ride-hailing expenses for businesses, a major jump from October when Lyft was receiving 11% of receipts, according to new data from Certify. Of course, that means Uber is losing market share. In the first quarter of 2018, Uber had 81% market share, down from 95% in the first quarter of 2016.

Lyft riders also are spending $5 less on trips than Uber riders, and they appear to be tipping less: 6% of business travelers using Uber tipped their drivers in the first quarter of 2018, compared to 2% of Lyft riders. Business travelers, on average, are tipping about 15¢ less per ride with Lyft than they are with Uber.

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