UberMOTO launches in Bangalore today
Let me start by saying I love Uber, but I don’t use it often. I used Uber extensively when I travelled to the bay area for work and then again for fun with family. Uber was cheaper than renting a car for spot travels. I was there when UberPool was launched in San Francisco. Boy it was great, though took almost 20% more time. As they say “time is money” you can get one, not both.
As I write this, UberMOTO launches in Bangalore, second city post the Bangkok launch last month.
Here is some math on why its more economical for people who already own their mode of transportation (bike/ car).
My office in Bangalore is about 11 km from my home and takes me about 45–60 minutes one way. Yes I know, that’s pretty good by Bangalore standards. So at the current pricing of UberMOTO @ 15 (base) + 3 (/km) x 11 + 45 (Rs 1/ min) = 93 x 2 = 186/ day.
Assuming bikes take 25% less time to navigate through the traffic ~ 82 x 2 = 164/ day
My car gives me an average of 15 kmpl. So I spend ~ 1.5 liter/ day, i.e. about INR 90/ day (@ INR 60/liter). About 45% less than what UberMoto charges.
My annual cost to commute to-from office
- Gas/ month ~ INR 1936 (annual = 23,232)
- Yearly Maintenance ~ INR 6,000 (assuming twice a year @ INR 3000/ service)
- Annual spent = 29,232
Annual cost with UberMOTO = 43,296 (without SURGE pricing ;)
So if you already own a car/ bike it’s 32% economical to go with your own transport giving you the flexibility, safety, comfort and can listen to music while driving, but takes 25% more time.