Ride-sharing companies Uber, Ola drive overall car sales in India in 2016―report
Vehicles purchased by such companies grow 43% y/y last year
Ride-sharing companies such as Uber and Ola have pushed overall vehicle sales in India in the past two years, reports The Economic Times (ET). These app-based aggregators purchased around 100,000 cars in 2016, which was year-over year (y/y) increase of 42.9%. This year vehicle sales to these aggregators are expected to increase by at least 25%. This is a significant trand considering automakers are expecting single-digit growth in passenger vehicle sales in 2017.
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