Uber, Ola have hit speed hump, but are still seeing growth

The number of cabs affiliated to either Uber or Ola has dropped by 25% in the first quarter of 2017

As the slugfest between Uber and its Indian counterpart Ola wanes, the growth of the country’s ride hailing market has plummeted for the first time since 2014.

After both companies invested billions of dollars in growing the market for on-demand cabs, news reports citing market researcher RedSeer suggest the number of cabs affiliated to either Uber or Ola has dropped by a staggering 25 per cent in the first quarter of 2017.

While the prime reason for this drop in inventory has been a cut in driver incentives, others argue that both firms had overstocked on supply and the drop