Mobility has been one of the most hustling sectors among all largely due to the necessity that it created in the market. The players filled a crucial gap which almost became an essential for many, especially the young working professionals. However, with the Covid and the following lockdowns, the sector saw an inevitable dip.
The good news is that the sector is slowly recovering and as things return to normalcy, we are sure that the sector will come back stronger. Here, we have captured a few latest insights on how the sector is making a recovery.
1. Mobility recovered 63% with overall 71 million rides
E-Mobility: Monthly Rides- Growth Recovery Curve (Indexed to 100), Jan 2020 = 100, Jan ‘20-Jan’21
With 71 million rides, the sector has recovered 63% but is still lesser compared to 113 million rides in Pre-Covid days. All the segments have shown gradual recovery with normalcy and unlock resuming.
2. Autos and bikes taxis have shown the highest recovery
E-Mobility: Monthly Rides- Growth Recovery Curve (Indexed to 100) , Jan 2020 = 100, Jan ‘20-Jan’21
Among all the segments, autos and bike taxis have recovered the highest clocking 23 million rides and 12 million rides respectively. However, it has still not recovered completely as compared to the Pre-Covid days. The trend is inevitable as autos and bike taxis lower the risk of contracting virus as per medical research.
3. Metros continue to recover faster vs non-metros
- Kolkata has witnessed the highest recovery so far with 80%+ while Mumbai and Delhi are second with 50%+
- Pune has seen high m-o-m growth due to the low base of no. of bookings
- Operations are gradually resuming in ‘Rest of India’ cities and the growth is slower than Metro cities
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.