APTA Q4 2025 numbers are out and it is bleak. Over 10% loss in 2025.
HOWEVER, 2024 was a record high, after correcting for overcounting of ridership in previous years. The 2023 ridership was corrected from over 45.1 million (59.6 million boardings) down to ~42 million (55 million boardings) due to "new methodology". In the past, they "corrected" the 2004 ridership of 25.5 million to 27.3 million, and I guess this can be considered a "recorrection". By 2024 standards, the 2019 ridership was overcounted, which means 2025 ridership was actually on par with 2019. Not so bad.
Unfortunately, Brampton Transit seems to have cancelled their APTA membership, possibly as one of their cost-cutting measures, so we can't compare, and YRT mistakenly reports revenue ridership (linked trips) to APTA instead of boardings (unlinked trips). We know Brampton fell to 38 million revenue rides, and YRT at 24 million revenue riders is probably around 32-33 million boardings. YRT seems steady for the year overall, but look closely you can see 4% loss for the quarter. Winnipeg Transit and STM with a whopping 14% loss for the quarter.
Seems like things going to get worse before they get better, so don't expect to many improvements this year, especially for the routes serving Brampton. Maybe the financial hit not so bad because Brampton riders only pay half fare anyways (MiWay doesn't get compensation for One Fare as far as I know). McLaughlin probably take the biggest hit with fewer international students and manufacturing struggles, but non-industrial routes further south like Dundas and Bloor probably doing okay, maybe even better with the back to work mandates. And let's not forget that MiWay also been really slow to catch up to ridership growth, 2025 service hours still below 2019 level, so it's not like the buses are suddenly empty that will force them to cut (but somehow I wouldn't be surprised to see them cut anyways).