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Vegas Price Wars! Lyft Lowers Vegas Rates 30% to Match Uber & Taxis Are In Trouble

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Lyft Vegas Fare Reduction

Lyft Vegas Fare Reduction

On the same day that Uber came to an agreement to operate at McCarran International Airport, they announced a 30% reduction in the rates. I assumed it was only a matter of time before Lyft followed suit and alas I just received the following email:

Hey Las Vegas, get ready to pay less for rides.

We’ve dropped our prices. The best part? No code required, these price changes are automatic.

To give you an idea of just how low we’re going, check out these new prices.

Lyft Vegas Fare Reduction

Analysis

The subject of the email announces the exact change at 30%. Not a surprise. The way I see it, there are two big losers here. The first loser is the taxi companies, since they are now priced significantly higher than ridesharing outside of surge pricing. I’m not saying we should feel sorry for them though. I am interested to see if and how they respond given their regulatory environment.

The second losers are of course the drivers. I have heard rumblings that Uber drivers are not happy with the recent rate reduction and many of them jumped ship to Lyft or began driving primarily for Lyft. With this price match things are more even, but the driver’s are also losing out on 30% of revenue. That is a tough cut in pay and I wouldn’t be surprised if there were less drivers out on the streets tomorrow!

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Shawn Coomer
Shawn Coomerhttps://milestomemories.com/
Shawn Coomer earns and burns millions of miles/points per year circling the globe with his family. An expert at accumulating travel rewards, he founded Miles to Memories to help others achieve their travel goals for pennies on the dollar. Shawn also runs a million dollar reselling business, knows Vegas better than most and loves to spend his time at the 12 Disney parks across the world.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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