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Uber and Didi Dominate the Car on Demand (Raid Hailing) Industry, Business and Industry Trends Analysis

Uber, Inc. is a California-based creator of the Uber mobile app which connects drivers and ridesharing services with passengers.  Uber operates in hundreds of cities worldwide.  Upon receiving a ride request, Uber sends the closest driver to fulfill it.  Riders can rate their experiences with drivers for other riders to view.  The company retains a fee from each ride that it books and then passes the balance of the fare to the drivers.  Uber’s major U.S. competitor is Lyft.
Uber has expanded very aggressively on a worldwide basis, although it merged its operations in China with local competitor Didi Chuxing, after Uber incurred massive losses in China.  This enabled the firm to concentrate its expansion efforts and cash in other markets, including the vast market in India where it is investing heavily.  Uber is a major competitor in India, where it has been purchasing cars and leasing them out to local drivers who want to work with the firm. 
UberEATS is a restaurant-prepared meal delivery service that is available in dozens of cities worldwide.  Uber, through its cutting-edge technologies and industry-leading experience base, is in a position to potentially revolutionize the freight trucking dispatch industry.
Meanwhile, China’s Didi Chuxing is working to push into new markets and invest in developing driverless technology.  It recently expanded into Japan and Latin America.
Other ride hailing services include India’s Ola, Korea’s Kakao Taxi, Singapore’s Grab (which acquired Uber’s Southeast Asia ride sharing and food delivery business in March 2018) and the EU’s Gett.
Another U.S.-based ride share company is Lyft, which had a 32% market share as of August 2023.  According to Lyft in its “2023 Economic Impact Report,” a survey of its customers found that 38% of Lyft rider customers do not own or lease a personal vehicle.  This means that total vehicle ownership among this group was reduced by 8 million vehicles.
Alto is another rideshare business that differs from Uber and Lyft in that its drivers are employees of the company rather than independent contractors.  Alto owns and maintains a fleet of Buick SUVs, freeing its drivers from maintaining their own vehicles and insuring a clean, comfortable ride and reliable experience for customers.  Drivers undergo background checks, drug testing and three days of training before beginning work.  Riders pay slightly higher rates than those for Uber or Lyft, but enjoy perks including music and climate control preferences, bottled water, umbrellas, ample space for luggage and power cords for charging devices while underway.  Headquartered in Dallas, Texas, Alto offers rides in cities including Dallas, Houston, Los Angeles and Miami.

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