Ride-hailing accelerates as companies are spurred on by Uber’s success

September 12, 2016

Vehicle rental giant Europcar has acquired London-based ride-hailing business Brunel in the latest strategic move by companies as they respond to the global success of market-leader Uber. Brunel is a leading provider of chauffeur and executive driver services available on a mobile application. It primarily serves companies operating across a range of corporate markets, including investment banks, law, advisory firms and financial institutions. Uber has been enjoying exponential growth for its services in the past year, with the total of number of journeys through its software passing the two billion mark. It has prompted a number of other companies and manufacturers to invest in the sector. For example, Toyota has confirmed a strategic investment deal with Uber, Volkswagen is investing in ride-sharing app Gett and GM is partnering with car-hailing service Lyft. In addition to being a key outlet for vehicle sales for manufacturers, it also represents a large, young customer base. Research in the US found that the median age of ride-hailing apps users in the U.S. is 33, with 18- to 29-year-olds seven times more likely to use the services than those aged 65 or above.

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