Uber’s Fastest-Growing Region Set for New No. 1, Break-Even
- Growth in Latin America tripled in first 4 months of 2016
- Brazil to overtake Mexico as region’s top user: Arevalo
Traffic congestion, Mexico City, Mexico, Central America
Photographer: Charles Bowman/Robert Harding World Imagery via Getty ImagesThis article is for subscribers only.
Uber Technologies Inc. tripled the number of car journeys ordered using its ride-hailing app in Latin America during the first four months of this year, making it the company’s fastest-growing region.
The convergence of widespread smartphone usage and insufficient public transport have spurred rising demand from Mexico to Argentina, with profits from the former country helping to fund its expansion, Uber’s Regional General Manager for Latin America Rodrigo Arevalo said.