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Ola, Uber face severe shortfall of drivers and cars

Updated : November 11, 2019 07:59 PM IST

All is not well in the ride-sharing economy dominated by Ola and Uber. In cities like Bengaluru, there seems to be a supply crunch of cars and drivers on the ride-hailing platforms, which means consumers have much longer waiting time for their rides.
Incentives are no longer at the high of 2015-16, when thousands of gig workers had jumped into the profession and even bought their own vehicles on loans to ply on the ride-hailing platforms.
With a fall in income, drivers have struggled to repay their loan amounts and in cities like Bengaluru, it has led to thousand of cars being seized by financiers, according to driver associations and industry experts. 
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