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Uber overtakes rental cars among business travelers

According to a report in Bloomberg by Olivia Zaleski, "Taxis aren't the only ones that may be stressing out about Uber Technologies Inc".

Many travelers, who previously would have rented a auto for convenience even when they didn't expect to drive much, are choosing Uber for those shorter trips, Hamzah Mazari, an analyst at Sterne Agee, was quoted as saying.

In Q4 2014, for example, taxis were 30% of transportation transactions, vehicle rental 48% and ride-hailing 22% but, jumping to Q4 2015 shows taxis at 20%, auto rental down to 38% and ride-hailing at 42%.

Ride-hailing services surpassed rental cars and taxis in the business travel space and Uber accounted for more than 43 percent of the ground transportation category in the first quarter, according to a data from Certify.

"The number of trips taken with the ride share services by corporate trekkers almost doubled in the first quarter of this year compared with the same period in 2015, according to expense management company Certify, which reviewed more than 9 million receipts and expenses".

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Apps for requesting rides have gotten increasingly popular over the last few years, with services like Uber and Lyft being the two most notable offerings.

A number of drivers would be working for both companies, but during busy times when everyone wanted a ride, it was possible to make more money with Uber, which would cause drivers to shift to Uber over Lyft.

For the first three months in 2014, taxis rides represented a 37% share, but fell to 25% in 2015 and 14% this past quarter.

A USA Today story on Thursday noted that business travelers continue to flock to Uber, Lyft and others at the expense of cabs.

The price difference is also marked and no doubt a reason for the tip in favour of the likes of Uber and Lyft on top of the convenience aspects often highlighted.

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