Did you know that at it’s current pace, China’s Uber market share is set to surpass the U.S. market share before the end of 2015? It’s true.
Uber announced earlier this month that over 1,000,000 rides are taking place every single day in China alone. Not only that, But Uber rolled out in China just 2 years ago; It’s still “catching on”. Three of the most active Uber cities in China have surpassed New York in regards to daily rides taken - Those cities are Guangzhou, Hangzhou and Chengdu. Uber’s CEO Travis Kalanick said that over 200,000 Hangzhou residents are becoming new UberChina riders every week.
The current pricing structure for the “People’s Uber” car service in Guangzhou, China is as follows**:
- No base fare cost
- ¥0.35 per minute (time spent in car)
- ¥1.60 per KM (distance travelled in car)
- ¥8 cancellation fee
- No service fees
- And a minimum overall fare cost of ¥9.
People’s Uber is the lowest cost service, But Guangzhou offers UberX, UberXL, and Uber BLACK as well.**
** = According to UberEstimate.com’s Guangzhou price tracking page
Uber is said to be about 35% less expensive than the current taxi’s in China, Allowing for this tremendous growth - Growth of which has already provided over 60,000 new jobs in China since the launch, And why Uber publicly announced plans to dump atleast another $1,000,000,000 to continue growth and expansion into Chinese territory.