Chinese ride-hailing giant Didi Chuxing is facing rising competition as many of its drivers have migrated to its competitors who are heavily incentivizing drivers and riders in an attempt to snap back market share from the dominant player.
Industry insiders claim that the multi-billion-dollar Chinese ride-hailing market has entered an era of volatility after years of Didi Chuxing's dominance. Chinese riders welcome market competition as they are increasingly displeased with Didi's rising charges.
Starting in July, many online ride-hailing platforms have ramped up efforts on issuing new bonus such as heavy discount of taxi fees and other incentives. For example, Alibaba-backed AutoNavi, or Gaode Map, is providing riders a 100-yuan taxi coupon for free, in addition to a discount.
Other ride-hailing platforms such as AA Chuxing and Meituan Dache are also providing similar favorable packages in a bid to draw drivers from Didi Chuxing.
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