This rideshare app is the most popular among younger users

After getting the latest earnings reports from rideshare companies Uber (UBER) and Lyft (LYFT), Market Domination Co-Host Julie Hyman provides key insight into some of the top rideshare apps among Gen Z. She breaks down the latest chart from Morgan Stanley which polled 575 of its summer interns on their rideshare habits.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Melanie Riehl

Video Transcript

Morgan Stanley polling 575 of its summer interns for its annual Alpha Wise survey.

Among the questions which ride sharing service do you see?

Do you use the most?

Yahoo Finance's Julie Hyman joins me now with a closer look.

So what they say, Julie, you know, this might be my new rival for my favourite, uh, read on the young since the Piper Sandler survey that they do a couple times a year.

Um, so those interns, they uber the most.

And so, as we looked at the numbers from uber and then the numbers from Lyft and you and I talked to a lyft CEO David Richer.

Today you see maybe one of the reasons why there is a dichotomy here Uber saw decent growth.

The stock went up Lyft uh, stock went down.

So 84% and again, small sample size.

I get it, But it's just interesting to take a look at these.

Morgan Finley are interns.

84% use, uh, use uber 15% use lift.

1% use yellow, which is an app that helps you with, uh, yellow cabs via hardly anybody.

1% other.

Not sure what the other is.

But what's also interesting is how much these guys use the ride share apps here.

So they also pulled them on that.

How frequently do you use ride sharing apps?

29% of them 1 to 4 times a month, 29% 5 to 10 times a month, 15% 11 to 20 times a month and eight percent use it more than 20 times in a month.

90% of them.

Don't they say, typically use it.

But still, this shows you the younger cohort.

They are very reliant on ride sharing.

Presumably.

Also, Morgan Finley turned skew more urban, right?

Some of them maybe even the majority of them here in New York City, which is a heavier use of ride sharing than, say, in the suburbs or some other cities.

So interesting there.

The company also asked, and also asking them about their favourite car brands, Tesla falling a little bit in the rankings, which was interesting, and whether they would be willing to ride in a robo taxi.

19% of them said, uh uh, no, thank you.

Uh, And then, even though Tesla fell in the rankings of cars they would buy, 31% of them would get in a Tesla robo taxi.

So there you have it from the mouths of babes or interns, in this case.

All right.

Thank you, Julie.