The simple reason why Uber and Ola can’t deter Indians from owning cars

Travis Kalanick, founder and CEO of Uber, built his cab-hailing startup with one ambitious goal: to stop people from buying cars. And while his ultimate goal could well be achieved globally, India would remain an exception.

New research by Swiss investment bank UBS says that ride-on-demand (RoD) apps won’t stop Indians from buying their own cars. The main reason for this, according to UBS’s analysis, is that the cost of availing these services is similar to an owned-car. Additionally the...

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