The law of supply and demand.
Let’s focus on Metro Manila only, since this is the area where Grab has very high demand. Also, do not forget that Uber has recently left the country for good. There are a group of Uber partners (operators/drivers) who did not migrate to Grab. They probably just stopped their ride-sharing sideline.
This how it used to be before Uber shutdown: there are 600k active bookings, while there are 43,000+ available cars on a daily basis.
Booking was not a problem then.
And then Uber left. Uber partners were welcomed to join Grab, but not everybody migrated.
Currently: 600k bookings, 35,000 available cars
According to Grab’s figure, only 11,000 Uber partners migrated to Grab. The rest either stopped being a TNC, or they have not acquired the LTFRB’s blessing.
Driver numbers continue to drop as uncertainty in maintaining sustainable livelihood increases. With the recent suspension of PHP 2 per minute fare, a lot of drivers and operators fear they won’t be able to provide for their families and car maintenance expenses, Cu addressed.
“We need more cars to serve the riding public. We appeal to the LTFRB to allow the displaced 6,000 Uber drivers who are not part of the master list to continue driving with their chosen TNC in order to support the demand. With an average of 12 rides a day, this is already an additional 72,000 rides, which can help ease the plight of the riders. ” said Brian Cu of Grab Philippines
Here’s another infographic that explains what happened after the acquisition.