The Covid-19 pandemic has led to a surge in demand for a wide assortment of goods and services. For example, e-commerce saw a huge boom as many Singaporeans chose to shop online instead of going to physical stores.
Another industry that saw a huge growth in demand is car-sharing. This refers to private owners leasing their vehicles for others to drive, or when a company has a fleet of cars that can be used for short-term rentals.
According to a report published last year, car-sharing companies experienced a spike in demand the moment movement restrictions were lifted.
During the first phase of the economy reopening in June 2020, Tribecar’s revenue increased by 40 per cent, while Whizzcar saw a 20 per cent increase. On the other hand, BlueSG bounced back from its loss incurred during the circuit breaker with a 50 per cent jump in rentals.
For Drive lah, it saw a 20 per cent rise in month-on-month revenue in April and May during the circuit breaker, and the number of active users went up from about 5,000 in April to 7,000 in June.
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