To dive a bit deeper into the recent Uber fare cuts, Simon from the Rideshare Dashboard took a look back at the January 2015 cuts in 48 cities to give some context on what drivers might be able to expect from this latest round of fare cuts.
What Happened After Uber Cut Fares in 48 Cities in 2015?
So hopefully many drivers already know about the fare cut in 80 cities two days ago and many are asking if these fare cuts are permanent. That is a hard question to answer.
It is both yes and and no. Uber did eventually raised up the fares in most cities, but they did not restore the pricing in many of those cities.
I have been tracking rates every week, and here is a summary of price increases of the original 48 cities that had a fare cut:
On Wednesday it was reported that San Francisco’s largest taxi company, SF Yellow Cab, would file for bankruptcy. While some of the initial reports speculated on competition from Uber and Lyft as the main causes, there are deeper issues here related to the medallion system. Guest contributor , Driver8, who’s driven for the cab companies and the rideshare companies in San Francisco, shared his perspective on the news.
What are the initial reports on the bankruptcy filing saying?
Driver8: I’ve found the article by Carolyn Said (SF Chronicle) to be the best so far. It focuses more on the facts (the $8 million lawsuit that Yellow Cab lost, for example), rather than conjecture about Uber and Lyft killing their business.