Lyft says nearly 250,000 passengers stopped owning a personal vehicle in 2017

Ride-hailing company Lyft has released a new report detailing it ‘economic impact’ for 2017, revealing some key business figures from the year that was.

Specifically, Lyft says that it offered 375.5 million rides for the year — a 130 percent growth year-over-year. Altogether, this served 23 million different passengers, which was a 92 percent year-over-year increase. 1.4 million drivers on the platform – 100 percent growth vs. its total for 2016.

With all of this said, Lyft is reporting that nearly 250,000 of its passengers stopped owning a personal vehicle due to the availability of ride-hailing services, while fifty percent of Lyft users said they drive their car less often.

Twenty-five percent of those using Lyft, meanwhile, said they feel the importance of personal vehicle ownership has decreased as a result of ride-hailing services.

Some other key statistics, according to Lyft:

• Drivers earned a total of $3.6 billion, up 140 percent, as well as $240 million in tips, which is a 120 percent increase
• Passengers have spent $2 billion more in communities to help fuel the economy
• Riders donated $3.7 million through Lyft’s ’round-up-and-donate’ program in 2017
• Eighty-three percent of its passengers are open to riding in a self-driving vehicle

Lyft made its Canadian debut in Toronto and the GTA on December 12th, 2017, so it will be curious to see how the company’s 2018 statistics will compare.

Via: TechCrunch