Uber/Lyft/Via/Juno (Apps) in NYC had flat trip growth yoy in October, which continued a downward overall trip trend since March 2019.
Yellow Taxi volume had an accelerated decline of ~20% yoy.
An overall for-hire market trip decline may indicate the NYC consumer is hurting.
NYC is Lyft's largest market and one of Uber's Top 5 markets.
NYC top line growth likely now has to come from (i) pricing, (ii) take rates and/or (iii) market share gains (i.e. Juno Ch. 11) and/or traditional taxis.
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The New York City Taxi & Limousine Commission recently published Oct 2019 trip data for the for-hire transportation