Ride-hailing companies in south-east Asia are facing growing pressure from drivers over fuel costs and commission fees. Go To, the region’s second-largest ride-hailing company, saw its share price fall to Rp29, down over 90 per cent from its 2022 peak. Grab, the Nasdaq-listed market leader, has also seen its shares drop 50 per cent in the past year.
Drivers in Indonesia, Vietnam, Thailand and the Philippines have protested against rising fuel prices and high commission deductions, some as high as 50 per cent. Indonesia has capped commissions at 8 per cent for two-wheeler drivers, while Vietnam’s National Competition Commission has ordered Grab and rivals to improve transparency and fairness. Analysts say the unrest is driven by weak economies and inflation, with drivers earning less and facing higher costs.
Companies are being urged to treat drivers as customers, not just app users.
Source: Financial Times Companies · Summarized by HeadlinesBriefing