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I use Uber often or I should say used to use them often. Their prices have skyrocketed. I price shop whenever I do need a ride and am shocked. Places that I have gone pre-pandemic for years have easily doubled in price. Usually take UberBlack, and often times the base service (UberX) is MORE expensive. lol I usually drive, but within Manhattan I sometimes need a taxi. I have since switched to Revel. Last time I was going to an event that involved booze so I could not drive. Needed a taxi for a short distance. Revel was cheaper.
Noted when need a convenient ride. I bot a good amount of Uber stocks lately, and I might have to dump them now knowing how dis-attractive their service has become
Noted when need a convenient ride. I bot a good amount of Uber stocks lately, and I might have to dump them now knowing how dis-attractive their service has become
Don't expect them to lower their prices anytime soon. Investors want a ROI. They had money to burn at the beginning (investors' money lol) to lure people in, but now it's time to turn a profit, so they don't have much of a choice. Everyone is watching and saying will they EVER make money? lol If they don't I expect the stock to tank eventually.
During the pandemic, I understood the higher prices, but now you check, the prices are rarely the usual ones. Always charging more because of "increased demand". I could see say $10.00 more, which I have paid, but double the cost? No way. Revel is usually more expensive than UberX because they use actual employees and no subcontractors, but IMO it's worth it. The entire fleet consists of Teslas. The only downside is waits are a bit longer and the coverage area isn't extensive, but I only use them in Manhattan anyway, so doesn't impact me. With what Uber has been charging, Revel has been cheaper the last four or so trips I have taken compared to UberX, not even UberBlack. lol
Investors are still fine with the stock because the company has diversified the services it offers, but can they keep charging these prices? We will see...
When the subsidies provided by investors' funding was over, the prices were meant to go up. The level of the price ramp is what's worrying. Until they achieve driver less cars, they will not be profitable at all. And it seems that this is not happening anytime soon so it will be interesting to see how they fare in the near future.
I just Uber when I am travelling for business and charging my corporate card. Otherwise, I price shop now because sometimes, just the yellow cab is actually the cheapest option. How crazy is that?
When the subsidies provided by investors' funding was over, the prices were meant to go up. The level of the price ramp is what's worrying. Until they achieve driver less cars, they will not be profitable at all. And it seems that this is not happening anytime soon so it will be interesting to see how they fare in the near future.
I just Uber when I am travelling for business and charging my corporate card. Otherwise, I price shop now because sometimes, just the yellow cab is actually the cheapest option. How crazy is that?
Not sure if this crazy price hike is only a NYC thing. Money made in NYC could sustain their cheap operations elsewhere in the country. I don't think they could run a hugely profitable business solely depending on car rides.
Not sure if this crazy price hike is only a NYC thing. Money made in NYC could sustain their cheap operations elsewhere in the country. I don't think they could run a hugely profitable business solely depending on car rides.
Its in other states as well but notably higher in NYC
I've flown into/out of JFK quite a bit this year, and I live on the far west side. Uber/Lyft is continually between $100-130 for the trip. A taxi is a flat fare of $58 (or right around there), $6 tunnel toll, plus extras and tips, coming out to around $75ish. It's also almost always quicker getting a cab at the stand than calling an Uber and waiting for it.
Even better is taking AirTrain/LIRR to/from Penn for $13 and about an hour of your time. Unless it's really late at night or crappy weather, I prefer this option.
I certainly did; gas prices in NYC are dirt cheap. I just got back from a week in Phoenix AZ, and wow was gas expensive (over $4 a gallon for regular, and as high as $4.60 in some places).
On the ride back home from JFK, I saw a station along the Van Wyck with a price of $3.33 per gallon. Really reminded me of how much less things in NYC cost.
Yeah, I mean Uber pricing was basically subsidized and designed to drive rivals (i.e. taxis, mostly, at the time) out of business, and then reset to "market" rates, where they effectively set the market.
I used to get Uber ride from Hoboken to Newark Airport 3 years ago for like $20-23, when the local taxis in town were charging $35-40. It was almost unbelievable how cheap it was. And it was unbelievable by design.
Yeah, I mean Uber pricing was basically subsidized and designed to drive rivals (i.e. taxis, mostly, at the time) out of business, and then reset to "market" rates, where they effectively set the market.
I used to get Uber ride from Hoboken to Newark Airport 3 years ago for like $20-23, when the local taxis in town were charging $35-40. It was almost unbelievable how cheap it was. And it was unbelievable by design.
Yes- once people get it in their heads that Uber is cheaper than a taxi or other car service, they don't check prices. They automatically use Uber and assume it's the cheapest.
Just like many people assume that Amazon is the cheapest price for all their purchases and don't check other suppliers.
Once you are hooked, it's hard to get free. Just ask a trout.
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