Lyft Inc’s Number of Rides (2016-2022)

This statistic highlights Lyft Inc’s Number of rides, reported on a quarterly basis from Q1 2016 onwards.

Lyft, Inc. provides online carpooling services. The organization offers boarding reservations, payment processing, and vehicle transportation services. Lyft serves clients within side the United States. The company’s objectives are to enhance people`s lives on the world’s exceptional transportation. Lyft is available in approximately 95% of America and a few towns of Canada.

Different modes of rides

There are different modes of rides in Lyft.

Economy- Standard Lyft car for up to 3 riders, Lyft shared sharing a car with riders in the same direction at a discounted price. 

Luxury, lux– luxury car for up to 3 riders, lux black- Premium black car service with leather seats for up to 3* riders.

Other modes – Scooter– compact scooter for a single rider, bikes–Reserve and rent single rider bikes, Car Seat– Vehicle fitted with a child’s car seat (only available in New York City)

Lyft Inc’s Number of Rides

(All values are in millions)

Lyft Inc, Number of rides inclined from $103.10 million in Q3 2017 to $162.20 million in Q3 2018, marking a 57.32% ($59.1 million) incline on a year-on-year basis. Quarterly, the number of rides showed an increase of around 9.99% ($16.2 million) as the average number of rides inclined from $162.20 million in Q3 2018 to $178.40 million in Q4 2018.

In 2017, this company’s average number of rides showed a continuous rise. This is evident from the fact that the number of rides increased from $85.50 million in Q2 2017 to $103.10 million in Q3 2017, registering a growth of 20.58% ($17.6 million). This increase further continued as rides rose to $116.30 million in Q4 2017, accounting for an increase of 12.8%. This was followed by a good growth rate in the next year as Lyft’s Number of rides increased from $116.30 million in Q4 2017  to $132.50 million in Q1 2018, projecting growth of 13.93% ($16.2 million).

In 2018, a similar trend followed as of 2017. Thus, the number of rides rose from $132.50 million in Q1 2018 to $146.30 million in Q2 2018, accounting for an incline of about 10.42% ($13.8 million). This was followed by a rise of 21.94% as it increased to $178.40 million in Q4 2018 from $146.30 million in Q2 2018.

On an overall analysis of the past years, it can be concluded that the number of rides witnessed a constant increase in all the quarters from 2016 to 2018. However, on a closer look at the statistics, it can be seen that there is a rise in the number of rides from $29 million in Q1 2016 to $178.40 million in Q4 2018, marking a huge growth of 515.17% ($149.4 million). 

About the Company

Lyft is the second-largest car-sharing company in the United States, after Uber, with a 32 percent market share. Founded by Logan Green and John Zimmer in 2012 and is focused solely on improving people’s lives by providing the best transportation in the world and is dedicated to developing safe, economical, and sustainable means of transport. The common stock of the company is publicly traded on NASDAQ under the ticker symbol “LYFT” and is a component of the Russell 1000. Lyft is an on-demand taxi booking platform considered one of the fastest-growing companies in the United States. Lyft was launched in 2012 and currently has a user base of over 30 million passengers and 2 million drivers. The company is based in the United States and, develops, markets, and manages a mobile application providing carpooling, vehicle rental, motor scooters, bike-sharing systems, vehicles Food rental, and delivery. Its headquarter is situated in San Francisco, California, and​​ the company operations in 644 US cities and 12 Canadian communities.

Lyft does not own any of the vehicles; instead, each booking earns a commission. Fares are communicated to consumers in advance, but they vary according to local supply and demand at the time of booking. Lyft is giving ride-hailing competitors a run for their money. In 2014, they also launched the carpooling concept. They also debuted a fleet of electric scooters in 2018. The company is committed to making a positive difference in the city by offsetting carbon emissions on all the rides and supporting transport fairness through car-sharing and public transport partnerships.

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