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Lyfts Fare Cuts Detailed Analysis

Lyfts Fare Cuts Detailed Analysis

In yesterdays post, I announced that Lyft was cutting fares in some of their cities (Lyft Cuts Fares Again, Continues Price War). It seems as if most of their major markets have received fare cuts.

All in total, there were fare cuts in 35 out of the 64 Lyft cities (it should be 63 as St-Louis is not officially launched yet, but somehow I got the data from my script).

I had to manually calculate the percentage of fare drop. The first method is to average the percentage drop of base fare, mile and time. Minimum fares and cancellation charges were ignored. The outcome was very close to Lyft’s advertised price drop.

Next, I looked at my data and saw my average ride of 3 miles and 10 minutes. (For reference from Sherpa, average trips can range from 3 miles and 10 minutes to 5.5 miles and 18 minutes, depending on the city). I then varied miles first and then time to see if there was a difference in fare reduction if the trip was further or longer. By and large, it doesn’t matter in many of the cities I looked at. However, there were a few cities that had a percentage higher based on the estimated fare compared to just average the fare reductions. Here are the list of cities that may have a higher percentage drop than advertised:

Below is the percentage of fare reduction in each city and percentage drop based on trip time and distance

CityAverage3mi 10min4mi 15min3mi 15min
‘bakersfield’18%15%12%15%
‘charlotte’22%23%21%24%
‘colorado-springs’32%33%33%34%
‘corpus-christi’8%12%13%11%
‘dallas-fort-worth’6%10%12%9%
‘detroit’26%27%26%25%
‘fairfield-county’16%27%30%26%
‘fresno’42%40%38%40%
‘houston’9%11%13%11%
‘inland-empire’13%13%10%14%
‘jacksonville’4%7%8%6%
‘kansas-city’37%40%38%41%
‘lexington’29%37%39%37%
‘lincoln’33%13%10%12%
‘los-angeles’11%11%9%11%
‘louisville’34%31%27%32%
‘memphis’4%7%9%7%
‘miami’16%21%24%19%
‘modesto’40%38%38%37%
‘napa-and-sonoma-county’34%31%28%31%
‘new-jersey’34%35%36%34%
‘oklahoma-city’25%24%25%23%
‘omaha’27%39%36%41%
‘orange-county’14%12%10%13%
‘orlando’23%25%25%24%
‘phoenix’7%8%9%9%
‘providence’35%39%41%38%
‘raleigh-durham’21%20%19%19%
‘sacramento’32%36%39%34%
‘san-diego’11%14%15%14%
‘seattle’6%8%8%8%
‘spokane’24%25%25%26%
‘stockton’40%38%37%38%
‘tampa-bay’13%12%12%12%
‘toledo’22%29%28%30%
‘virginia-beach-hampton-roads’17%19%20%18%

Here is the fare data as of 9/26/2014 (there were updates made on the night of 9/25/2014)

9/25/2014BaseCancelMinimumMileMinute
‘albuquerque’1.35551.850.2
‘ann-arbor’1.35551.450.2
‘atlanta’1.35561.290.17
‘austin’1.35551.70.27
‘bakersfield’1.13541.10.18
‘baltimore’1.8551.370.17
‘boston’1.131041.310.25
‘charlotte’1.13551.10.18
‘chicago’1.71530.90.22
‘cincinnati’1.8541.260.27
‘cleveland’1.35541.260.27
‘colorado-springs’1.13551.10.18
‘columbus’0.68541.260.23
‘corpus-christi’1541.10.18
‘dallas-fort-worth’0.9551.10.17
‘denver’1.13551.410.17
‘detroit’1.13551.10.18
‘fairfield-county’1551.10.18
‘fresno’1.13551.10.18
‘honolulu’2.16541.440.31
‘houston’1.13551.10.17
‘indianapolis’1.26541.130.23
‘inland-empire’1.13541.10.18
‘jacksonville’1551.10.18
‘kansas-city’1.13551.150.22
‘lexington’1.13551.10.18
‘lincoln’0541.30.25
‘los-angeles’0.8531.10.21
‘louisville’1.13551.10.18
‘madison’1.35551.220.27
‘memphis’0.7541.10.15
‘miami’1.13551.10.18
‘milwaukee’1.8551.130.23
‘minneapolis-st-paul’0.68561.710.22
‘modesto’1.13551.250.22
‘napa-and-sonoma-county’1.13551.10.18
‘nashville’1.13541.10.18
‘new-jersey’1.13561.10.18
‘new-york-city’31082.150.4
‘oklahoma-city’1.13551.10.18
‘omaha’0.45541.10.18
‘orange-county’0.8531.10.21
‘orlando’1.13541.10.15
‘phoenix’1.8541.20.2
‘pittsburgh’1.35541.130.27
‘providence’1.13551.10.18
‘raleigh-durham’1.13531.10.18
‘sacramento’1.13541.150.22
‘salt-lake-city’1.15541.40.18
‘san-antonio’1.26551.580.23
‘san-diego’1.35531.250.18
‘san-francisco’2.25551.350.27
‘santa-barbara’1.8551.620.23
‘seattle’1.35541.350.24
‘silicon-valley’2.25551.350.27
‘spokane’1.13551.150.22
‘st-louis’1.49541.440.23
‘stockton’1.13561.30.22
‘tampa-bay’1.25541.20.13
‘toledo’1541.10.18
‘tucson’1.8531.760.18
‘tulsa’1.5541.50.15
‘virginia-beach-hampton-roads’1.13551.10.18
‘washington-dc’2.03551.260.26

Here is the percentage of change of each category:

9/25/2014BaseCancelMinimumMileMinuteReduction
‘albuquerque’0%0%0%0%0%0%
‘ann-arbor’0%0%0%0%0%0%
‘atlanta’0%0%0%0%0%0%
‘austin’0%0%0%0%0%0%
‘bakersfield’34%0%0%2%18%18%
‘baltimore’0%0%0%0%0%0%
‘boston’0%-100%0%0%0%0%
‘charlotte’16%0%0%16%33%22%
‘chicago’0%0%0%0%0%0%
‘cincinnati’0%0%0%0%0%0%
‘cleveland’0%0%0%0%0%0%
‘colorado-springs’25%0%0%31%40%32%
‘columbus’0%0%0%0%0%0%
‘corpus-christi’0%0%0%15%10%8%
‘dallas-fort-worth’0%0%0%17%0%6%
‘denver’0%0%0%0%0%0%
‘detroit’55%0%0%24%0%26%
‘fairfield-county’0%0%17%39%10%16%
‘fresno’55%0%17%31%40%42%
‘honolulu’0%0%0%0%0%0%
‘houston’10%0%0%17%0%9%
‘indianapolis’0%0%0%0%0%0%
‘inland-empire’10%0%0%0%28%13%
‘jacksonville’0%0%0%12%0%4%
‘kansas-city’29%0%0%30%51%37%
‘lexington’6%0%0%42%40%29%
‘lincoln’100%0%0%0%0%33%
‘los-angeles’11%0%0%3%19%11%
‘louisville’50%0%0%12%40%34%
‘madison’0%0%0%0%0%0%
‘memphis’0%0%0%12%0%4%
‘miami’16%0%0%31%0%16%
‘milwaukee’0%0%0%0%0%0%
‘minneapolis-st-paul’0%0%0%0%0%0%
‘modesto’55%0%17%38%27%40%
‘napa-and-sonoma-county’50%0%0%19%33%34%
‘nashville’0%0%20%0%0%0%
‘new-jersey’53%0%0%39%10%34%
‘new-york-city’0%-100%0%0%0%0%
‘oklahoma-city’37%0%0%27%10%25%
‘omaha’0%0%0%27%55%27%
‘orange-county’20%0%0%3%19%14%
‘orlando’44%0%0%27%0%23%
‘phoenix’0%0%20%9%13%7%
‘pittsburgh’0%0%0%0%0%0%
‘providence’37%0%0%47%22%35%
‘raleigh-durham’35%0%0%19%10%21%
‘sacramento’50%0%0%46%0%32%
‘salt-lake-city’0%0%0%0%0%0%
‘san-antonio’0%0%0%0%0%0%
‘san-diego’0%0%0%16%18%11%
‘san-francisco’0%0%0%0%0%0%
‘santa-barbara’0%0%0%0%0%0%
‘seattle’0%0%20%8%11%6%
‘silicon-valley’0%0%0%0%0%0%
‘spokane’16%0%0%23%31%24%
‘st-louis’0%0%0%0%0%0%
‘stockton’53%0%0%35%33%40%
‘tampa-bay’21%0%20%11%7%13%
‘toledo’0%0%0%27%40%22%
‘tucson’0%0%0%0%0%0%
‘tulsa’0%0%0%0%0%0%
‘virginia-beach-hampton-roads’16%0%0%24%10%17%
‘washington-dc’0%0%0%0%0%0%
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