Oct 14, 2017

Study shows ride-hailing is likely increasing street traffic

Rebecca Zisser / Axios

Ride-hailing services like Uber and Lyft may be adding more cars on the road, according to a new study published by the U.C. Davis Institute of Transportation Studies this week. Though the study found that 9% of car owners said they've disposed or one or more of them because of ride-hailing, it's unclear whether it's reduced their total vehicle miles traveled (VMT).

  • Ride-hailing users who also use public transit have higher personal ownership rates than those who only use public transit.
  • Ride-hailing has led to a net 6% reduction in public transit use by Americans in major cities (draws people away from buses and light rail, but complements commuter rails).
  • A majority (49% to 61%) of ride-hailing trips would have not been made at all, or by walking, biking, or public transit, likely adding to the total VMT.

Why it matters: Since their inception, these companies have made lofty claims about ride-hailing's environmental benefits, including reducing car ownership. They've also used these argument when persuading regulators to permit their operations.This study (and others) shows that it's likely not the case at all.

Go deeper

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.

Situational awareness

Photo: Win McNamee/Getty Images

Catch up on today's biggest news:

  1. Roger Stone sentenced to 40 months in prison
  2. Top NSC official reassigned to Energy Department amid "Anonymous" fallout
  3. Morgan Stanley to buy E*Trade in $13 billion deal
  4. Coronavirus slams companies' 2020 sales projections
  5. Black activist group gives its first presidential endorsement to Elizabeth Warren

Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,100 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 114 new deaths since Wednesday.

Go deeperArrowUpdated 2 hours ago - Health