Gojek TaxiGoyek Taxi
Made with Sketch.Made with Sketch.Made with Sketch. The JAKARTA -- Express Transindo Utama's shipments have dropped as Indonesia's second biggest taxi company is struggling to cope with the advent of the Go-Jek and Grab carpoolers. The Express Group has a total vehicle portfolio of around 9,000 units and a 15% share of the express transport markets.
In 2012 it was quoted on the Indonesian stock exchange with the symbol "TAXI". However, the radical changes in technology in the sector have meanwhile thrown a shade on the enterprise's prospects. More and more clients are changing to Go-Jek and other ride-hauling as well. It has also experienced a deterioration in its image as a result of the fact that missing investments in its vehicle pool have caused customer complains about "dirty cars".
On 25 June, the Indonesian stock exchange discontinued trade in express equities as interest was not paid on the 2014 bond issues. While the taxi owner has not made an formal statement, this is the second such waiver in less than three month. Taxis were often renegotiated locally in the past, but Express and Blue Bird, the leading company, implemented counter-based taxi pricing and quickly became the biggest taxi companies in the state.
In 2015 the flood came when the start-up Go-Jek started to offer lower prices. By 2016, when smart phone penetration was over 50% in the nation, riding tailing became the most favorite option for Indonesians. The Express has a vehicle park of around 9,000 cars, but the company's turnover has dropped drastically in recent years.
Express worked with the world's biggest supplier of riding tailing, Uber Technologies, in December 2016 in an effort to manage the digitalization that has changed the taxi business. On the other hand, Blue Bird cooperated with Go-Jek and continued to make a small gain. In spite of a personnel and other asset turnaround, Express recorded a loss in the first three moths of this year.