Can taxis still compete with ride-hailing? Yes, say industry players

Industry experts claim that place fees are in place to encourage car owners to go there, which also apply to other areas like Singapore Expo and Gardens by the Bay.

The absence of competitive fares indicates that the fares are not aggressive enough to entice drivers to be there, according to the statement from the place operators and tourists. That’s why ( the surcharge ) has to go up”, said transport economist Walter Theseira.

The Singapore University of Social Sciences ‘ associate professor of economics argued that the airline industry must try to stabilize supply and demand.

However, there are concerns that rising prices may turn even more people aside from taxis and force them to use ride-hailing, causing more cabs to jump through.

HOW DID RIDE-HAILING OVERTAKE TAXIS?

Many people nowadays prefer to book a car on ride-hailing services over taxis because they want the assurance of knowing the price in advance, as opposed to a prepaid fare, and the ability to compare prices between various apps.

” The industry has shifted very quickly towards ride-hailing”, said Prof Theseira, who was on the same radio.

The majority of Singaporeans want to travel by game, according to the author. The reveal of rides by supplied fare has been going over constantly, and will probably come down more”.

Drivers are choosing ride-hailing because a personal car’s rental is less expensive than a taxi, apart from a large number of possible passengers on apps.

However, according to observers, the acting model between the two sides may have ended at the end of the month.

Individuals get to keep all they earn after paying for hire and energy, so car firms do not accept payment from supplied fares. Ride-hailing companies, on the other hand, earn from fee, which means owners earn less per vacation.

Authorities have been attempting to stop the taxi’s drop by lowering operating costs, lowering car rentals, and facilitating more people’s licensing.

Car firms, too, have been adapting, as the two factors try to offer the best of both worlds to cater to different customers.

For example, the reservation platforms of car firms nowadays have a flat-fee unit, which mirrors the ride-hailing suffer design, &nbsp, and gives users an option other than supplied fares.

Cars ARE HERE TO STAY

Industry experts predict that the good ol’ taxi wo n’t be phased out.

There is room for improvement in the gridlock for the various models of hiring a journey, they said, and the demand for car transportation is still high as ever, especially during peak times.

Most travellers in Singapore not longer care whether our demand is met with a taxi or a personal vehicle. We go with whichever is cheaper”, said Prof Theseira.

” In fact, big platforms then do cross scheduling. But when you book a trip, it could be a car or a secret employ car, but you pay the same fare independently. The final destination of desire is essentially the same.

” So, ride-hailing ( may have ) killed the old taxi model, but it did n’t kill the taxi per se.”

The car industry is far from being considered a twilight business, Mr Ban said.

” When autonomous cars come over, that might be a problem for car owners. But at the time, I think vehicles are very adaptable. Taxis are here to be, “he added.