financetom
Business
financetom
/
Business
/
Uber adopts smaller rivals' model for India autorickshaw rides to weather competition
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Uber adopts smaller rivals' model for India autorickshaw rides to weather competition
Feb 18, 2025 6:52 AM

Feb 18 (Reuters) - Ride-hailing platform Uber ( UBER )

has moved to a zero-commission model for its autorickshaw

drivers in India and will instead charge them a subscription

fee, mirroring a strategy followed by local rivals as

competition intensifies.

Uber ( UBER ) said it will now only connect users with nearby drivers

and will suggest a fare but the final amount would be decided by

the driver and the rider, the company said in a blog post.

A company spokesperson said the company made the shift as it

did not want "to be at a competitive disadvantage".

News publication Inc42 was the first to report the

development earlier on Tuesday.

High commissions charged by ride-hailing applications Ola

Consumer and Uber ( UBER ) have been a pain point for their network of

drivers, with many holding protests in recent years.

Uber's ( UBER ) move also follows newer but smaller rivals Rapido and

Namma Yatri, who do not charge their three-wheeler rickshaw

drivers any commission and instead take a daily or weekly

subscription fee.

It also comes as ride-hailing platforms seek clarity on tax

liabilities, following an authority's move that a model like

Namma Yatri would not be required to pay taxes as it connected

drivers with users, multiple local media publications reported

last year.

A web of varying regulations across Indian states,

particularly on fares, has also been a pain point for Uber ( UBER ).

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Salesforce Insider Sold Shares Worth $4,279,102, According to a Recent SEC Filing
Salesforce Insider Sold Shares Worth $4,279,102, According to a Recent SEC Filing
May 22, 2024
04:32 PM EDT, 05/22/2024 (MT Newswires) -- Marc Benioff, Director, Chair and CEO, on May 21, 2024, sold 15,000 shares in Salesforce ( CRM ) for $4,279,102. Following the Form 4 filing with the SEC, Benioff has control over a total of 22,497,327 shares of the company, with 12,497,327 shares held directly and 10,000,000 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1108524/000112760224016243/xslF345X03/form4.xml Price:...
E.l.f Beauty Shares Drop After Q4 Results, Weak Forward Guidance: The Details
E.l.f Beauty Shares Drop After Q4 Results, Weak Forward Guidance: The Details
May 22, 2024
e.l.f. Beauty, Inc. reported its fourth-quarter financial results after the bell Wednesday. Here's a look at the details.  The Details: e.l.f. Beauty reported adjusted earnings of 53 cents per share, beating the 32-cent estimate. Quarterly sales clocked in at $321.14 million, beating the $292.17 million analyst consensus estimate, primarily driven by strength across retailer and e-commerce channels. Gross margin increased...
Why FREYR Battery Shares Jumped 26% Wednesday
Why FREYR Battery Shares Jumped 26% Wednesday
May 22, 2024
FREYR Battery, Inc. ( FREY ) shares traded higher Wednesday after the company successfully completed its first production trial of unit cells utilizing the full capabilities of the Casting and Unit Cell Assembly machine, marking a monumental technical achievement. What To Know: This milestone positions Freyr as a trailblazer in giga-scale battery production, becoming the first company globally to demonstrate...
Snowflake Fiscal Q1 Non-GAAP Earnings Decline, Revenue Rises; Shares Climb After Hours
Snowflake Fiscal Q1 Non-GAAP Earnings Decline, Revenue Rises; Shares Climb After Hours
May 22, 2024
04:35 PM EDT, 05/22/2024 (MT Newswires) -- Snowflake (SNOW) reported fiscal Q1 non-GAAP net income late Wednesday of $0.14 per diluted share, down from $0.15 a year earlier. Analysts polled by Capital IQ expected $0.17. Revenue in the quarter ended April 30 rose to $828.7 million from $623.6 million a year earlier. Analysts surveyed by Capital IQ expected $785.9 million....
Copyright 2023-2026 - www.financetom.com All Rights Reserved