Uber and Lyft suggest ride fares will increase | Smart Highways Magazine: Industry News

Uber and Lyft suggest ride fares will increase

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Ride-hailing apps Uber and Lyft have recently reported their quarterly financial results and indicated that they using passenger enticing coupons less and less.

Lyft officials reportedly told investors that in June they had raised prices on some routes and touted its upcoming pricing algorithms.

Wired reports that Lyft officials also hinted that the fare price changes might be able to more precisely predict what riders would be willing to pay for a ride.

According to Wired Uber CEO Dara Khosrowshahi said that his company’s rivalry with the other big San Francisco–based ride-hailing company had cooled. “We and Lyft are big-time competitors here and have been for some period of time, but for now we’re seeing, generally, category positions that are stable,” said Khosrowshahi.

 
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