Uber Drops Prices in New York City by 15%

Aerial view of New York City

Ride-hailing service Uber said Friday it had lowered prices in New York City 15%, citing a post-holiday season slowdown.

The company said it was taking this step to keep its drivers busier and decrease the idle time they experience.

Earlier this month, citing a “winter slump,” Uber lowered prices in over 100 cities in the United States and Canada including Houston, Los Angeles, and San Francisco. At that time, it did not reduce prices in several key markets including New York or Chicago.

“With prices lower than a New York City taxi, Uber is now more affordable and accessible for residents across the five boroughs,” the company said in a statement.

The price cut is slated to remain in effect indefinitely although Uber said it reserves the right to raise its prices, based on then-current business conditions.

(Photo: Accura Media Group)