The gross book value (GBV) of the e-mobility sector, led by Ola, Uber, Rapido, and others, recovered from $259 million in January 2020 to $164 million in January 2021 with 83 per cent of the value coming from the top seven metros including Delhi, Mumbai, Kolkata, and others.
The recovery for the auto and bike segment could largely be attributed to less risk of contraction, mid-to-long distance travel in a city such as home-office commute significantly still muted, and the affordability quotient even for shorter commutes amid tough job market and salary cuts due to the pandemic. “Unlike cars, bikes are open and from the Covid perspective, indoor is more risky than outdoor. Also, bikes are meant for a shorter duration. So, the chances of contraction are lesser than in cabs. In terms of cabs, lot of customers may have gone back to hometown and may not return until offices resume. This would impact the recovery of four-wheeler booking,” said Yugal Joshi, Vice President at Texas-based consultancy Everest Group had told Financial Express Online.