CNA file photo of taxis waiting waiting in line along Battery Road in Singapore on Jun 2, 2020. SINGAPORE: With the recent increase in taxis and private-hire cars, the earnings of these drivers have “moderated” as passenger demand has not risen as much, said Senior Minister of State for Transport Amy Khor.
She noted that average surge prices and net ride-hail fares had declined in the first half of 2023 from a peak at the start of that year. Prices are now back to levels seen in the first half of 2022.that CNA spoke to last month. Grab and Gojek drivers said they noticed a dip in their incomes over the past six months, citing factors such as a fall in the number of passengers, as well as an increase in competition from other platforms.
Thus, the appropriate level of supply for the sector depends on commuter demand and the fares they are willing to pay, she said. She responded that this dip in earnings needs to be taken “into context” - that there were periods such as at thein 2022, as well as during festive periods and concerts early this year, where demand was high and drivers earned more.