BUSINESS NEWS SINGAPORE

77 per cent of drivers carpool to save money: RYDE survey

Saving time is the second reason, shares the survey conducted amongst 1,000 of RYDE’s pool of 20,000 members in Singapore

By Colin Tung

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Carpooling app RYDE recently conducted a survey of 1,000 of its 20,000 members and found that for both riders and drivers alike, the main motivation for using it is to save money. The Singapore startup announced the results of the survey today at a press conference.

This factor was a stronger one for drivers, 77 per cent of whom chose it over its social factor (15 per cent) and its eco-friendliness (8 per cent).

For riders, 64 per cent opt to carpool with RYDE because it helps save money. The app’s ability to help save time was a distant second with 20 per cent listing it as the primary motivation for using RYDE.

There could be one other motivation, however, if an anecdote shared by CEO and Founder of RYDE, Terence Zou, during the press conference is true.

“A 22-year-old student asked for a ride from East Coast to Clarke Quay. A Lamborghini actually turned up. She paid S$7 (US$5) for the ride and that was [probably] the most memorable experience she has had. This story has been propagating on our network,” said Zou.

Also Read: RYDE rolls into the carpooling fray with US$1M seed round

The main concern for drivers and riders, however, differed. Almost half (48 per cent) of the drivers who responded said that timing was the main concern when offering others the chance to carpool with them through the app. The matching of routes with a rider is the next highest concern.

For riders, it was safety (48 per cent) followed by the cost of the ride (45 per cent).

With RYDE adopting a subscription model where members — both drivers and riders — pay S$30 (US$21) to use the app for unlimited matches per year, the company does not take a cut of any transaction that transpires from a successful carpooling match and the ride that results.

The rider pays the driver the pre-agreed amount that is listed on the app when the carpool arrangement is made. This payment should not be more than and serves only to defray the cost of the ride according to Singapore regulations.

A majority of drivers (71 per cent) preferred cash payments, according to RYDE’s survey while riders were split between cash and credit.

Image Credit: Sergey Peterman/Shutterstock

  • Ryde Technologies
    Ryde Technologies Singapore RYDE is a social enterprise that promotes carpooling. RYDE provides a sustainable alternative for the daily commute to solve the congestion and pollution issues facing cities today.

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