KUALA LUMPUR, Aug 26 — Singapore private-hire drivers using the Grab and Gojek booking platforms have reported a decrease in their earnings over the last six months, attributing it to lower fares and market competition, Channel News Asia (CNA) reported today.

The regional news outlet said it spoke to eight private-hire drivers in the island republic and found that all who use Grab or Gojek claimed that fares are now lower and their incomes have in turn fallen.

"The competition among platforms and reduced passenger demand contribute to lower earnings,” Lee Chin Chye, a 56-year-old Grab driver who has seen his income fall by 10 per cent was quoted as saying.

CNA’s interviews with eight drivers confirmed a widespread drop in fares, though those using TADA, which has a zero-commission model, have not reported the same decline.

Singapore has five main ride-hailing firms, and Grab controlled 50.2 per cent of the market share in 2022, CNA reported, citing information from data platform Measurable AI.

Gojek is a distant second with 17.7 per cent, followed by ComfortDelGro at 15.1 per cent, TADA at 11.1 per cent, and Ryde at 5.9 per cent.

But CNA reported that neither Grab nor Gojek replied to its queries about whether or not they have reduced their fares.

Singapore has five main ride-hailing firms, and Grab controlled 50.2 per cent of the market share in 2022, CNA reported, citing information from data platform Measurable AI.

Gojek is a distant second with 17.7 per cent, followed by ComfortDelGro at 15.1 per cent, TADA at 11.1 per cent, and Ryde at 5.9 per cent.

The news outlet said the income dip is a growing concern in Singapore, especially for younger drivers or those with financial liabilities.

It cited a 31-year-old Gojek driver, who declined to be named, describing the 10 per cent reduction in his earnings as "tough,” but he remains committed to driving to support his family.

Grab driver Lee was reported saying lower earnings have forced him to occasionally take personal loans to manage his finances.

CNA reported an unnamed Grab spokesman saying that the income fluctuations are influenced by supply and demand, which can be affected by seasonal trends and significant events.

The company predicts a rise in demand and fares later this year due to upcoming high-profile events like the Formula 1 race at Marina Bay Circuit Street on September 22.

Grab attributes the drop in driver income to seasonal trends, noting that demand typically fluctuates with events and holidays.

CNA reported that incentives offered by ride-hailing companies often benefit new drivers more than experienced ones, which can impact long-term earnings.

"Earlier this year, we saw strong demand driven by the festive period – New Year and Lunar New Year spreading across January and February – as well as several high-profile concerts in (the first quarter) which led to higher demand and fares in the industry,” the Grab spokesman was quoted as saying.

Tan, a driver using both TADA and Grab, told CNA that competition naturally leads to lower fares, as consumers seek the lowest prices available.

TADA drivers who have not seen a drop in income attribute this to the platform’s zero-commission model, though some doubt its sustainability, the news outlet reported.

"I enjoy the zero-commission model now, but it might not last unless TADA finds another way to profit,” a 55-year-old part-time driver who gave his name only as Ng was quoted as saying.