Uber generates profit from UK ride hailing

October 12, 2016

Uber London, the UK arm of the global ride-hailing firm, doubled turnover and profit last year on the back of rising demand. The firm, which takes a share of fares earned by drivers, increased turnover and profits to £23.3m (€25.6) and just under £1m (€1.1m) respectively last year, City AM reports. Uber is thought to take a 20% share of fares, with drivers retaining the remaining 80%. UK passengers spent an estimated £110m on journeys made via Uber in 2015 as the ride-hailing app expanded from three cities to 20. Although it made a profit in the UK, Uber amassed losses of more than €1 billion in the first half of this year as it invested heavily in global expansion, including subsidising services in new markets.




Also in News & Insights

UPDATE: News & Insights have moved to the Autovista Group website

March 31, 2017

Our regular automotive industry News & Insights are no longer being published on the Autovista Group Market Reports website.

Instead, you can now find the latest updates at our central Autovista Group website, home to our pan-European brands including Autovista, Eurotax, Glass's and Schwacke.

To stay up to date with rapidly changing market trends, we recommend signing up to our free Autovista Group Daily Brief which delivers our daily news stories directly to your inbox.

You can still find our in depth market reports here on the Autovista Group Market Reports site. Keep checking back as we have an exciting new report due to be launched shortly!

PSA to boost UK presence in the event of a ‘hard Brexit'

March 08, 2017

UK sales flat despite upcoming road tax hike, diesel demand plummets

March 08, 2017

UK new car registrations fell annually by 0.3% in February to 83,115 units according to the SMMT, driven down by weaker demand from individuals and companies. More noticeable, however, was the 9.2% drop in demand for diesels compared to February 2016, a steeper drop than the decline in Germany...