Didi Chuxing, China’s leading car hailing app, has been quietly increasing its prices in several cities since last month, in a sign that the country’s cash-burning ride app wars may be decelerating.
The company, which claims to have an 80 per cent market share of the local ride hailing market, has been locked in a costly price war with US competitor Uber since last year, when the San Francisco based app began a concerted push into China.
Generous subsidies, sometimes amounting to three times the price of the fare, meant that until recently both car hailing services were less expensive than a regular taxi.
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