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Didi Chuxing, China's leading car has been quietly increasing its prices

  • Author:judy
  • Source:www.diecastingpartsupplier.com
  • Release on:2016-07-23

Didi Chuxing, China's leading car hailing app, hasbeen quietly increasing its prices in several citiessince last month, in a sign that the country's cash-burning ride app wars may be decelerating.The company, which claims to have an 80 per centmarket share of the local ride hailing market, hasbeen locked in a costly price war with US competitorUber since last year.

Generous subsidies, sometimes amounting to three times the price of the fare, meant that untilrecently both car hailing services were less expensive than a regular taxi.

However, in a sign that Didi may be conserving its ammunition, prices for its rides throughoutJune appear to have risen by one-third in a number of cities, and drivers confirmed thatsubsidies had been cut by an equivalent amount.Didi has not made a formal announcement on pricing, but it issued a statement that referredto the dropping of subsidies.
"We are rid of subsidies in many cities and price our products to market levels," said Didi,adding that prices vary from city to city.
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