Uber India says mobility business showing signs of recovery
Indian arm of ride hailing platform Uber on Monday said that its mobility business is showing strong signs of recovery thanks to rising demand for its low-cost services - Auto and Moto. The company said that these low-cost options have already crossed pre-Covid level of demand.
Some metro cities - Kolkata, Hyderabad and Mumbai -are showing the fastest recovery in terms of overall demand. Cities like Mumbai, Delhi, Hyderabad, among others, are showing strong recovery from the standpoint of demand for auto-rickshaws.
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With markets reopening and people going out of their houses like before, demand is increasing. Uber said that it is doubling down to provide drivers on its platform in order to improve earnings and utilising their time to the optimum level, thus resulting in greater financial independence and the economic revival of communities. "As cities start opening up and people begin moving again, we are witnessing renewed rider demand which augurs well for drivers because,"Prabhjeet Singh, President, Uber India and South Asia, was quoted as saying by PTI. "(This) means we can continue to create livelihood opportunities for them so they can support their families."
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Further explaining the reason behind the recovery, Uber India said, "As tens of millions of Indians start travelling in the new normal, the strong recovery in smaller towns underscores success for the company's 'India to Bharat' strategy, which offers new products in regional markets."
Globally also, Uber has managed to narrow its loss in the fourth quarter, riding a wave of deals that shed some of its more fanciful pursuits and added revenue-generating delivery businesses. The company sold its autonomous vehicles and flying cars businesses that weren’t helping Uber achieve its goal of a quarterly profit before interest, taxes and other expenses by the end of this year.