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Kommersant

Bank of America: The cost of taxi rides from online aggregators in Russia increased by 50-70%

January 15, 2021|
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The cost of taxi rides in Russia from the largest online aggregators increased by 50-70% by the end of 2020 compared to May-June. This was reported by Kommersant with reference to the report of analysts at Bank of America (BofA). In Moscow and the regions, prices increased by an average of 56% for Yandex.Taxi and 68% for Citymobil. Compared to December 2020 with January of the same year, the growth was 31% and 39%, respectively, for these companies. However, analysts point out that this may be due to the high workload characteristic of the end of the year. BofA does not disclose absolute figures. The experts took into account the indicators of Moscow, St. Petersburg, Samara, Ufa, Voronezh and Yaroslavl.

The trend is indirectly confirmed by the data of the Moscow Department of Transport, according to which in the first quarter of 2020 the average ticket for a trip in the capital was 417 rubles, in the second - 430 rubles, and in the third - 457 rubles.

BofA analysts, citing data from the Department of Transport, also noted the strengthening of Yandex.Taxi's positions in the Moscow's market: by the end of the year, its share exceeded 70%. In November, the share of Citymobil (owned by Sberbank and Mail.ru Group) amounted to 20.2% against 28.7% in April. In addition, in Moscow the prices of Citymobil and Yandex.Taxi in the Economy tariff in December were comparable, although in May-June Citymobil was 25% cheaper than its competitor.
At the end of 2021, the number of taxi rides in Russia will grow by 37% against a fall of 8% in 2020, analysts expect. Yandex.Taxi will have 1.8 billion trips, Citymobil - 327 million, BofA predicts. This is an increase of 49.8% and 70.8%, respectively.

Original (in Russian)

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