SINGAPORE: Grab and Gojek owners have noticed a drop in their earnings over the past six weeks, but Grab, the largest ride-hailing strong below, said this is cyclical.  ,
Mr Lee Chin Chye, 56, used to make S$ 300 to S$ 500 ( US$ 230 to US$ 380 ) driving 10 hours a day. He now earns about 10 % less than he did before this started to decline, despite driving the same number of hours as he did six months ago.
He attributes this to lower Grab system fares.
The declining demand from customers also has to do with it, according to Mr. Lee, who only accepts bookings on Grab.  ,
CNA spoke to eight , private-hire individuals, and all who use Capture or Gojek said charges are now lower and their revenues have in switch fallen. Three drivers who have n’t experienced a decline only use TADA, a company known for its zero-commission approach.
CNA asked whether Grab or Gojek had reduced their charges, but neither of them responded.
With a 50.2 percent market share in Singapore in 2022, based on the data system Measurable AI, Grab is the market leader among the five major ride-hailing companies. This is followed by Gojek with 17.7 per cent, ComfortDelGro with 15.1 per share and TADA with 11.1 per share. With a 5.9 %, Ryan is the smallest player.
The falling revenue is a growing problem, especially for younger individuals or those with financial obligations, individuals said.
A 31-year-old Gojek driver, who did not want to be named, said the 10 per cent hit to his earnings has been” tough” to take but he has no plans to quit.
He has been a private-hire pilot for five years to provide for his five children and lost his previous job due to an accident at work.  ,
Get vehicle Mr., who did not want to give his full name, is another vehicle with money to pay and a five-year-old baby to pull.  ,
In the last six weeks, his revenue has decreased by about 20 %. While he used to earn about S$ 300 a day for 10 hours of work, he now earns around S$ 250.  ,
” I have to cut down on vacation, eating at restaurants. The prices ( of goods ) are all going up but ( my income ) seems to be going down”, said the 56-year-old. ” Sometimes, once a month, it happens that I have to take a personal loan to sustain ( my expenses ) for a while” . ,
The rising cost of living, including for diesel, is making things worse, he said.  ,” It’s really a dual whammy”.