Uber, the revolutionary app-based taxi company has a new years resolution in place for 2015: Lower prices.
“At Uber we’re always looking for ways to deliver lower prices to riders to make Uber an everyday transportation option. In the last year, our largest cities have seen price cuts to deliver on that promise. The upside for the rider is obvious, but also important is that with the increased demand, drivers’ income goes up as well. More demand turns into significantly more efficiency for the driver, more trips for every hour, and more earnings for every hour on the road.”
Uber has made price cuts in 48 U.S. cities as a result of the slow winter season, in an attempt to boost sales during the slowest period of the year. Not only are the passengers who use this service our benefiting from this, but apparently Uber is promising their drivers “earnings guarantees”, so that their employees don’t see a drop in income, even with the price drop.
The price cuts apply to the following cities:
Salt Lake City
In Chicago, it appears that the price cuts are a positive impact on the company. Here’s a graph from Uber showing the lower prices and increased trips/fares per hour: