Uber drivers to see $260M in a year across four cities
UBER drivers in four capital cities could reap up to $260 million in fares over a year, an analysis of the ride-sharing firm's operations shows.
Deloitte Access Economics examined the benefits of Uber entering the market, but not the effects of its growth on the traditional taxi industry.
It showed Uber services were on average 20% cheaper than traditional taxis, waiting times were about three minutes shorter and the ride-sharing industry had more than $80 million in consumer benefits.
The report showed Uber now controlled only 6% of the point-to-point taxi market but was tipped to grow.
Deloitte partner Dr Ric Symes said the growth of Uber in Australia was "one of our most compelling sharing economy stories".
Using figures from operations in August last year, the report also showed drivers operating across Sydney, Melbourne, Brisbane and Perth would share in $260 million in fares over a year after Uber's licensing fees.