Lyft Cranks It Up to Eleven with more Fare Cuts!
So many drivers got this ominous email last email about big changes happening at Lyft. They were supposedly “cranking it up to 11.”
In all honesty, I don’t think this was what they were announcing, but its not a great start so far today. I really hope they have something more positive planned in mind.
[Update: the special announcement was to say they’re launching a new glowstache as part of the new logo for Lyft. See the wired article here: http://www.wired.com/2015/01/lyft-finally-ditching-furry-pink-mustache/]
After the Uber Fare Cuts, I thought this would be a great time for Lyft to distance themselves from Uber and make their own strategy. Note that Lyft started this whole fare cutting trend but Uber really put the pressure on Lyft once Uber cut their own fares.
I even posted a video last night on my Youtube Channel urging Lyft not to cut rates in any cities and to become more of a premium brand:
But of course, Lyft has their own ideas. It’s not to say I would ever think that Lyft would listen to us drivers but I thought maybe they could at least take it into consideration.
So here are the details about today’s fare cuts. Note, it is still early in the day so more fare cuts may be possible. The data I got was from Lyft’s own website so more cuts could happen once they post the new rates in other cities.
Something odd I noticed in my data that Lyft actually reduced the rate per minute in Detroit down to 8 cents a mile a few weeks ago. They reverted back to 18 cents a minute today.
Also, average reduction is calculated based on the average drop in Base, Mile and Minute rates. Looking at the cuts, it’s not nearly as bad as Uber’s Fare Cut two weeks ago. Many of them are in the 10% range, with a few near 20%.
Cities that received cuts:
- Dallas-Fort Worth
- Virginia Beach
Albuquerque (9% Reduction)
Baltimore (15% Reduction)
Charlotte (18% Reduction)
Dallas (15% Reduction, ignoring for removal of base fare)
Fresno (13% Reduction)
Orlando (19% Reduction)
Providence (10% Reduction)
Raleigh-Durham (8% Reduction)
Tuscon (20% Reduction)
Virginia Beach (9% Reduction)