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Uber Nashville Fare Cuts with 3 other Cities

Uber Nashville Fare Cuts with 3 other Cities

Uber Nashville announced a 25% price cut yesterday and dropped the minimum fare to $2, $1 of which is the safe ride fee, so minimum take home pay is 80 cents! Nashville joins 3 other US cities with a minimum fare of under $3, which are Austin, Chicago, and Indianapolis (was previously $0). Chicago was one of the biggest cities a few months ago to have their minimum fare reduced to $2.70.

The reaction has not be positive from other drivers. A few weeks ago, Uber decided to eliminate the flat rate from the Airport to downtown, which effectively cut fares from the Airport by about half. This has definitely angered a lot of drivers in Nashville and some of them are evaluating whether to continue with Uber or not. Despite the criticism, there are still a ton of drivers in Nashville both this morning and yesterday morning online.

To make up for the price cut, Uber will guarantee gross fares of $16/hr, $20/hr on Friday and Saturday nights. After Uber’s commission, the take home is either $12.80/hr or $16 per hour, depending on the time of the week. The requirement is one ride per hour and from the limited feedback from drivers, there seems to be more rides but just much lower fares. I have seen guarantees ($20/hr or below) like this before in small markets such as Indianapolis and people still sign up to drive.

Here the price cut in Nashville:

Nashville (27% Reduction):

11/12/20141/7/2015Reduction
Base Fare $             1.60 $           1.0038%
Minute $             0.16 $           0.1413%
Mile $             1.05 $           0.7330%
Safety $             1.00 $           1.000%
Min Fare $             4.00 $           2.0050%
Cancel $             5.00 $           5.000%

List of cities with uberX Fare Reductions in the past month:

List of new cities now with UberXL:

Fresno (17% Reduction):

11/12/20141/7/2015Reduction
Base Fare $             2.00 $           1.7015%
Minute $             0.25 $           0.2020%
Mile $             1.55 $           1.3016%
Safety $             1.00 $           1.000%
Min Fare $             5.00 $           5.000%
Cancel $             5.00 $           5.000%

Omaha (24% reduction):

11/12/20141/7/2015Reduction
Base Fare $             0.50 $           0.500%
Minute $             0.45 $           0.2544%
Mile $             1.65 $           1.2027%
Safety $             1.00 $           1.000%
Min Fare $             4.00 $           4.000%
Cancel $             5.00 $           5.000%

Vancouver, WA (7% Reduction):

7%
11/12/20141/7/2015Reduction
Base Fare $             1.50 $           1.500%
Minute $             0.35 $           0.3014%
Mile $             1.65 $           1.556%
Safety $             1.00 $           1.000%
Min Fare $             5.00 $           5.000%
Cancel $             5.00 $           5.000%
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