This is uber awesome.
Rideshare service Uber is instituting seasonal price cuts in 48 of its “newer” cities starting Friday in order to prompt better deals for riders and better business for drivers.
In a post on Uber’s blog, the business explains its logic for helping drivers beat the “winter slump” by making rides cheaper and boosting business.
“We’re so confident in the earnings gains drivers will see that we’re making earnings guarantees in every city where we’re cutting prices,” reads the blog post. “We feel that it is important for drivers to have this kind of certainty and comfort going into a price cut.”
The rideshare service cites data resulting from its recent price cut in Chicago, Illinois, as an example of how such a move can benefit Uber users and drivers.
In Chicago, riders have seen their fares discounted by 23 percent between December 2013 and December 2014, while drivers have seen a 12 percent increase in revenue each hour in the same time period. Trips per hour have also increased by 45 percent.
The cities that will experience price cuts starting Friday include Baltimore, Cleveland, Dallas, Detroit, Miami, San Diego and dozens of others.
“We expect that these seasonal price cuts will help bring newer Uber markets in line with our larger ones with lower costs for riders, higher earnings for drivers, shorter wait times for both, and a better experience for all,” the blog post declares.
The rideshare service has not specified precisely how much the fares will be cut.
To view the rest of the select cities, visit the Uber blog.
