Uber Lowers Prices in 100 U.S. and Canadian Cities
Citing a “winter slump,” ride-hailing service Uber Technologies announced it is cutting the price of a ride in over 100 cities in the United States and Canada.
The San Francisco-based company said it will cut prices in Los Angeles and its home town by 10%, Houston by 20%, and Richmond, Virginia by 15%. The price of a ride in multiple key markets including Chicago and New York will remain unchanged.
The price cuts are slated to remain in effect indefinitely although Uber said it reserves the right to reverse or change them, based on local business conditions.
This is the third year that Uber has lowered its prices in January and the effect has been mixed. In January 2015, Uber cut prices in multiple cities but reversed course in two including Seattle when, according to the company, “it became obvious that prices were already low enough” prior to the cut.
“Each city is different,” the company said. “Different economic circumstances; different regulations; different competition” but it plans to continue testing “new things” such as price cuts going forward.
(Photo: Accura Media Group)