Based on my tweet earlier today, I got a lot of feedback on this topic. My rough calculation concluded that it was much cheaper to use Uber/Ola than owning a car.
To corroborate, I decided to polish my rough excel and create a self help version for anyone to play with various scenarios in case Uber/Ola decides to increase their prices in the future.
Here is the link to download the excel calculator. Have fun calculating: http://j.mp/GoUber
Overall car ownership will be cheaper if one doesn’t keep a driver. However the point is that we need to compare the similar deliverables — chauffeur driven 5 Lakh (Swift Dzire) type car.
At Rs.16km rate, Uber/Ola will turn out to be more expensive than owning a car. So keep Ubering till they reach that point :)
Also The Times of India published the following graphical version of this sheet in the newspaper today:
Let me know your feedback twitter.com/deepakabbot or mail me at email@example.com
p.s. I might have made some mistake in this quick work so please do not crack down on me :)