Mobility sector reaches 63% of pre-covid levels in Jan: Redseer
2 min read . Updated: 01 Mar 2021, 12:19 PM IST- Gross booking value for the sector stood at $164 million in the first month of 2021, as compared to $259 million in January 2020
Bengaluru: The mobility sector which includes cabs, autos and bike taxis clocked close to 71 million rides in January, 63% of that recorded in pre-covid months.
Total mobility rides clocked by the sector stood at 113 million in January last year, during pre-covid times, said management consultancy Redseer.
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Gross booking value for the sector stood at $164 million in the first month of 2021, as compared to $259 million in January 2020.
With all segments showing gradual revival post unlock in May, last year, autos and bike taxis have shown the highest recovery.
While volumes still haven’t recovered to pre-covid levels, overall auto rides stood close to 23 million in January, this year, hinting at an 83% recovery. On the other hand, bike taxis have shown a 62% recovery clocking 12 million rides, and cabs clocked 36 million rides hinting at a 54% recovery, this year, when compared to pre-covid times.
“The trend is inevitable as autos and bike taxis lower the risk of contracting the virus as per medical research," said the Redseer.
In terms of demographics, the top seven metros continued to show the fastest recovery, and contributed to 75% of overall bookings for the sector, this year.
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Kolkata witnessed the highest recovery so far with ride-hailing volumes standing at 80% of pre-covid levels, while Mumbai and Delhi came in second with 50% recovery. Pune witnessed highest month-on-month growth due to the low base of number of bookings.
“Our research shows that recovery has been faster in metro cities compared to non-metro cities. While Kolkata has witnessed the highest recovery, Mumbai and Delhi are second. As cities return to normalcy, the sector will see a gradual recovery as the main segment that is the working professionals continue remote work," said Redseer.
The mobility sector has been worst hit by the ongoing covid-19 pandemic, as demand dropped with several corporates and companies adopting a work-from-home policy. As a result, several mobility firms have announced layoffs in the past year to curb costs.
Recently, in February, bike rental startup Bounce laid off as much as 80% of its staff, as demand continued to be a struggle, according to several media reports
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