Certify SpendSmart Report Q2 2016: Ride-Hailing Leaves Taxi Far Behind as Lyft Rises

Certify SpendSmart Report Q2 2016: Ride-Hailing Leaves Taxi Far Behind as Lyft Rises

Certify just released its SpendSmart™ Report for Q2 2016 with data and analysis of U.S. business travel and entertainment expense spending trends, and the news for taxis is not good. Continuing a trend Certify first identified in the first quarter of 2014, ride hailing now accounts for more than 78% of total rides compared to taxi. Ride-hailing pioneer Uber represents nearly 73% of receipts and expenses with rival service Lyft coming in at just over 5% for the quarter. Lyft also started picking up the pace in the first half of 2016, with growth from Q1 to Q2 outpacing Uber, 176% to 145%.

With continued momentum in the corporate market and competition heating up it appears the ride-hailing trend is beginning to turn a corner. For taxis nationwide, there may be no turning back.

Elsewhere in ground transportation, ride hailing has also continued to chip away at car rental in the latest Certify report. Uber and Lyft are up more than 2% from the previous quarter accounting for almost 49% of total ground transportation, compared with taxi’s 14% and car rental at just over 37% for Q2 2016. Certify also found that business travelers are increasingly using ride-hailing services in unique ways, potentially at the expense of car rental and other business travel services, which has resulted in a growing number transactions of $100 or more.

With 3.6%, Uber had the greatest number of transactions over $100 compared to Lyft at .4%. Further analysis of these transactions revealed a possible explanation for why business travelers might turn to ride hailing in situations where car rental or other services might have been used in the past:

  • “I ubered home instead of paying $180/night in a hotel” ($160.82 expense)

  • “Train from Sheffield to London was struck by lightening, had to take Uber back to London” ($211.28 expense)

  • “Bad situation with a flight canceled, best thing was to take a one-way Uber from Wilmington to Charlotte Douglass airport” ($210.07 expense)

  • Additional ride-hailing data and analysis compared average cost per transaction, user satisfaction ratings and top cities for Lyft versus Uber in year over year growth. For more about the latest ride-hailing and business travel spending trends, check out the Q2 2016 infographic now.

    The Certify SpendSmart Report tracks business travel expense spending across major categories such as food, airlines, lodging, and car rental. Additional analysis of the more than 10 million receipts and expenses logged by Certify this quarter includes top travel vendors and leading brands such as Starbucks, McDonald’s, Subway, Delta, United, Marriott, Hampton Inn, National, and Enterprise. The report highlights top vendors and emerging trends by analyzing data from millions of expenses and receipts processed by the Certify system. Data is compiled each quarter to help controllers, accountants, and business travelers make more informed expense management choices.

    For more most expensed categories, user ratings and additional results from SpendSmart Q2 2016, review the full report and infographic now.