The State of Lyft: Key Statistics and Trends in 2023

Ridesharing has become an integral part of transportation across many major cities. As one of the top providers, Lyft continues to evolve to meet rising demand. This article will explore crucial Lyft statistics that provide insights into their growth, drivers, riders, and future outlook.

Lyft By the Numbers: Key Metrics

  • Lyft facilitated over 1.3 billion rides in 2022, averaging 30 million rides per week [1]
  • Currently operates in 658 cities in the US and Canada with over 2 million drivers
  • In 2022, Lyft generated $4.09 billion in revenue, up 37% from 2021 [2]
  • Monthly active riders in Q2 2022 reached 19.7 million, recovering steadily from under 12 million during pandemic lows [3]
  • Average revenue per rider in 2022 was $57.72 versus $51.79 in 2021 [4]
  • Projected Q3 2022 revenue is estimated between $1.08 billion and $1.1 billion [5]

Key Statistics on Lyft Drivers and Demographics

Understanding Lyft‘s driver metrics provides insights into earnings potential and work patterns:

  • 94% of Lyft drivers work less than 20 hours per week [6]
  • 20% of drivers are 55 years old or older; 11% are retirees [6]
  • 72% of drivers identify as people of color; 37% are Hispanic/Latinx and 23% are Black [6]
  • 14% exclusively drive during non-conventional work hours [6]

Lyft also appeals to those seeking flexibility – 92% of their drivers wish to remain independent contractors [6].

Analyzing rider statistics and behaviors is crucial for Lyft‘s growth:

  • 49% use Lyft in conjunction with public transit [7]
  • 58% take Lyft to/from airports or entertainment venues [7]
  • Over 45 million people used Lyft for transportation needs in 2022 [6]

What Does the Future Hold for Lyft?

After a few years of pandemic uncertainty, Lyft is steadily rebuilding rider engagement and revenue. Investing in innovation also remains key:

  • Lyft sold their self-driving division to Toyota for $550 million in 2021 [8]
  • In 2022, they achieved 100% renewable energy to power all electric vehicles and operations [9]
  • Lyft anticipates even higher Q3 growth in 2022 and will expand into new types of transportation services [5]

As cities encourage reduced car ownership, Lyft can play a bigger role for convenient urban mobility. Though competition remains fierce with Uber, differentiating through social impact initiatives could help Lyft continue gaining market share in the upcoming years.

Sources

  1. Lyft Economic Impact Report 2022
  2. Rideshare Guy
  3. Lyft Q2 2022 Financial Report
  4. BusinessofApps
  5. Lyft Q2 2022 Shareholder Letter
  6. Lyft Economic Impact Report 2023
  7. Enterprise Apps Today
  8. TechCrunch
  9. Lyft