Indian Mobility Sector Foresee a Plunge of Upto 40 pc as Covid-19 Deepens Impact

New Delhi, May 4 (Agency) The ride-hailing sector in India that saw tough times in 2020 managed to recover 69 per cent with overall 78 million rides in March this year, a new report said on Monday, stressing that the lethal second Covid wave is going to hit the mobility sector once again. The report cautioned that with the recent Covid-19 developments in the country, the recovery for key players like Ola, Uber and Rapido is likely to go on a downward trajectory with a drop of 30-40 per cent in the coming months as many states go into lockdown.

According to Bengaluru-based market research firm RedSeer, autos recovered the highest in March, clocking 25 million rides. “However, it has still not recovered completely as compared to the pre-Covid days. The trend continues as it poses lower risks of contracting the virus,” the report mentioned. Cabs continued to dominate the market with 40 million rides in March. “While the sector saw gradual recovery, with the hit of the second wave, mobility will continue to see a decline in the coming months,” the report said. In the January-March quarter, cabs dominated the market as many offices resumed at 50 per cent capacity leading to high growth in the category. As the second wave of pandemic struck, cabs witnessed a decline in the no of rides in the month of March.