Uber Valued Above General Motors
Uber Valued Above General Motors

by Claire Fastner

Sky-high valuations have resulted in ride sharing providers posing serious competition for traditional companies within the automobile and transportation sector.

The sharing economy is booming, especially when it comes to ride sharing. Services such as Uber and Lyft, that come with handy apps that let you order a car within a single swipe, offer a convenient way to travel. However, it isn't just for Uber and Co.'s services and growing user numbers that startups within the ride sharing segment have received plenty of media attention of late.

According to Statista's Digital Market Outlook, sky-high valuations have resulted in ride sharing providers posing serious competition for traditional companies within the automobile and transportation sector. In fact, at 62.5 billion U.S. dollars, Uber Technologies is valued above General Motors, which has been in the car making industry for over 100 years.

The above chart illustrates market capitalization/valuation of key players within the automotive and transportation market.

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"Uber Valued Above General Motors"