The report suggests that cab supply peaked in the December quarter since January last year to approximately 500,000 vehicles, before plummeting to about 380,000 vehicles in the March quarter, largely because of a fall in incentives for drivers, prompting them to either explore other driving jobs or quit entirely.
“This trend was precipitated largely by continuously dropping incentives and driver incomes. Drivers who left the online platforms either shifted into other (offline) driving jobs or changed professions entirely,” says the report.
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To be sure, the numbers claimed by […]