Uber CEO Dara Khosrowshahi announced that the company is making major investments to attract drivers as demand continues to outpace supply across its mobility services. According to US Top News and Analysis (cnbc.com), the leadership discussed these operational strategies alongside recent financial performance figures.
International Mobility and Driver Supply
Khosrowshahi explained in prepared remarks ahead of a scheduled call that the core mobility division saw slightly weaker-than-expected results overseas. Supply growth in multiple international regions faced pressure due to restricted driver availability and high fuel costs. To counter these challenges, Uber is deploying targeted investments to enhance driver availability.
During an interview with US Top News and Analysis (cnbc.com), Khosrowshahi pointed out that customer demand surpasses available supply. The company wants to prevent price increases and extended wait times for users. Consequently, Uber is investing heavily to onboard new drivers in the United States, Brazil, and India.
Autonomous Vehicle Expansion and Delivery Growth
The chief executive stated that Uber has committed roughly $10 billion in capital toward integrating autonomous vehicles into its platform. This initiative involves various partnerships and investments in firms such as Rivian, Nuro, and AVRide, which focus on robotaxis and driverless trucks.
For the near term, the company aims to feature more than 2,000 automated vehicles on its network by the close of 2027, split evenly between U.S. and international markets. Around 700 vehicles are expected to be available by the end of the year, incorporating Amazon’s Zoox and Motional robotaxis in Las Vegas during the current quarter. Meanwhile, Uber continues to expand its delivery operations through the acquisitions of Delivery Hero in Germany and ezCater in the United States.
Regarding Uber Eats, Khosrowshahi noted that an expanded partnership with Costco in the U.S. is performing ahead of projections, with Costco currently ranking among the platform’s leading merchants by gross bookings. Looking ahead to the fourth quarter, Uber projects midpoint overall bookings of $64.5 billion, aligning closely with the average StreetAccount estimate of $64.26 billion.
