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Taxi operator ComfortDelGro upgraded to 'buy' even as ride-hailing market thrives amid ‘healthy competition’

Uma Devi
Uma Devi10/2/2019 06:06 PM GMT+08  • 3 min read
Taxi operator ComfortDelGro upgraded to 'buy' even as ride-hailing market thrives amid ‘healthy competition’
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SINGAPORE (Oct 2): The entry of new players into the ride-hailing market, which broke a ‘monopoly’ following the Grab-Uber merger in 2018, has seen 55% of drivers report increased earnings even as average daily ride-hailing fares have fallen by 11% for commuters.

According to a study published Wednesday by the Centre for Governance, Institutions and Organisations (GCIO) at National University of Singapore (NUS) Business School, this underscores the importance of healthy competition in the ride-hailing market.

Commissioned by Gojek, the independent study polled 1,000 drivers and commuters who are users of multiple ride-hailing services, including Grab, Gojek, Ryde and Tada.

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