Wednesday, January 28, 2015

Snowstorm shutters 20% of Citi Bike system

When the temp is only 20 degrees, this may be more of an interesting milestone than a transportation crisis but…
This morning, 69 Citi Bike stations are out of service -- more than 20 percent of the system. On top of that, at 8:30 am, 52 stations were empty and one was full. That’s renders more than a third of the system unusable, by far the highest number we’ve ever seen.
This may indicate a more managed response to snow than last year when Citi Bike admitted it left far too many bikes in the stations in January. A record 5433 bikes were available on Jan 17, 2014. The bikes subsequently got plowed under and many suffered damaged as a result.
Whatever the case, there are fewer Citi Bikes available this morning -- 1400 at 8:30 am -- than at any time since we’ve been tracking system performance at the beginning of 2014. There were  2900+ bikes available before the storm hit.

Citi Bike has pledged to get the fleet back to pre-storm levels over the next couple of days.

Good luck getting a bike in Brooklyn this morning. Gray stations are those out of service.

Friday, January 23, 2015

Fleet size drops to record low as Operation Overhaul begins

Fleet size at the end of  December -- the number of bikes on the streets -- was the lowest monthly figure since the system opened. The system operators admitted leaving too many bikes on the street last winter -- fleet size was 6,499 in December 2013. And Citi Bike has pledged to use this winter to overhaul every one of its bikes.
Source: NYC Bike Share monthly reports

This winter, Citi Bike riders are taking shorter trips

This winter, Citi Bike riders are traveling shorter distances than last. In December, the average trip was 1.41 miles, the lowest monthly number yet recorded.  In December 2013 the average was 1.52. Highest average trip was in the system’s early day’s, July 2013’s 1.97 miles.

Thursday, January 22, 2015

Remarkable how penalty fees are such a steady contributor to bottom line

Citi Bike collected $37,000 in overtime charges from pass users in December, 41 percent of total pass revenue.

Penalty fees in December amounted to $2.07 per rider, the lowest number of the year. The per pass purchase rate is $5.47

Member revenue drops below 2013 level for first time

Revenue from new and renewing annual members dropped below 2013 levels for the first time in December. The drop was substantial -- 24 percent to $89,000. And that’s with the 50 percent rate increase in place.
We suspect that many members who signed up last winter found they didn’t get much use out of the system in the brutal cold and are waiting until March to renew. A darker explanation might be that the rate increase, combined with the frustration caused by NotSpots and Dock Lock, is chasing people away. Guess time will tell.

For the second straight month, gross revenue from all riders -- members and pass purchasers -- declined from last year’s levels. Revenue from riders ran 32 percent behind December 2013. In November, it ran 20 percent behind.

Citi Bike annual membership declined slightly for the third straight month. Dember ran eight percent behind December 2013, the widest gap so far. The 702 signups are the lowest monthly figure yet recorded.

Total pass purchases -- 1-day and 7-day -- hit an historic low in December of $6808. In no comparable month in 2014 did pass riders exceed 2013 levels.

Source: NYC Bike Share monthly reports

Wednesday, January 21, 2015

This time last year, NotSpots started trending up until peaking at an out-of-control 96 on May 27. The current trend is downward and, weather-wise, this January has been much milder than last.