Uber/Ola strike tomorrow? So my Uber driver from DEL airport told me. Also told me reasons - which sound grim. Uber/Ola have become unsustainable for the driver-partners who have invested in cars, and they're badly stuck--with situations similar to farmers with loans.
My @Uber_Delhi driver was extremely articulate. He asked me what I knew about their economics. Then he explained: "Uber/Ola take 60% of what you pay. Uber charges you over Rs 10/km, gives me 6.40 less 20%. My fuel expenses are 3.50 / km. I'm left with less than 1.70/km." 2/4
"That gives me a max Rs 500 a day earnings, if I can drive for 16 hours and 200 km a day, killing myself. After meals and sundry expenses, I am left with 200..250 a day. This car you're in cost 8 lakh. I haven't paid EMI for 3 months. How do I pay?" my Uber driver continued. 3/4
"I have four cars, all bought on loans. I can't repay them. I can't get drivers. Drivers want 20k p.m. salary. I can recover less than 10k p.m. from each car in max utilisation. How can I pay 20k salary? We gave up 50k p.m. jobs for @Uber." 4/n
"They don't pay us on time. Monthly payment delayed, we go to protest at Uber Gurgaon sec 29, and Ola near the toll plaza, we get beaten up each time by CRPF men, finally get our money released. Ola, Uber have Chidambaram, Sibal representing them in courts. What can we do?" 5/n
"40-50% of Uber/Ola drivers are a financial wreck, many have divorced, unable to support a family or even themselves." said my really articulate Uber driver. "They came in with incentives, showed us big dreams, and came in and destroyed them." 6/n.
The most startling claim was that both Uber and Ola take away 60% of earnings from passengers, while claiming to take 20%, leaving them broke and unable to pay back car loan or even survive. Is this true @Uber_India @Olacabs @bhash? 7/n
