Competition is always good in the markets. It lets the quality up and prices down. In the ride-sharing business, there are Uber and Lyft. They are in a cold war. Lyft try to get more share from the Market, and Uber is attempting to keep the share. And this last day both companies lowered their prices.
In 100 cities Uber lowered the price and right after that Lyft lowered the prices also. Here is the list of the cities that had a price cut; Detroit, Baltimore, Bakersfield, Cleveland, Colorado Springs, Cincinnati, Washington, D.C., Denver, Fresno, Spokane, Jacksonville, Los Angeles, Orlando, Memphis, Modesto, Minneapolis-St. Paul, Orange County, Oklahoma City, Omaha, Norfolk, Pittsburgh, Santa Barbara, San Bernardino, San Diego, San Francisco, San Jose/Silicon Valley, Sacramento, Sonoma/Napa Counties, Toledo, Tampa, Tulsa, Indianapolis, and Raleigh-Durham.
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Looks like no New York in this list, one of the busiest one. A spokesperson from Lyft said; Lowering the prices are necessary to stay competitive, With Uber price changes, we had to protect the ridership and the long-term earnings of our drivers.” Many drivers like to use Lyft because their cut is less than Uber and they gave more bonus money. But still this two company earn the real money, they don’t have any expense if you compare with the drivers. And when you are using these ride-sharing companies, you should be choosing the right time to travel because they get sneaky sometimes and charge more than they should. This year’s new years eve, both of them ruin the night for some people with high surcharge numbers. The surcharge was up to x9. Instead, 20 dollar people paid 180 instead. And they don’t even share this money with the drivers.
