Uber Lyft Vegas Prices Going Down
I have covered the Las Vegas ride sharing Soap Opera since its inception. It all started when Uber illegally launched in Nevada before getting shutdown by the courts. Then, a law was finally passed to allow ridesharing in Nevada, but it took awhile for Uber and Lyft to setup and even longer before they were allowed to pickup at the airport in Las Vegas.
When both Uber & Lyft launched their services (legally) in Las Vegas, they pretty much matched the taxi prices. This didn’t last long however. In December, both companies announced a 30% price cut. Now, it seems they have both lowered their rates again with Uber advertising a further 16% cut and Lyft pretty much following suit.
New Uber Lyft Vegas Prices
So just how much have ridesharing prices fallen in Las Vegas? Last year I covered the original Uber/Lyft costs which were the same at launch:
- Base Fare: $2.40
- Cost per mile: $1.85
- Cost per minute: $.30 (cost even when vehicle is moving.)
While these prices were slightly different than taxis (for example taxis only charge per minute when the vehicle is moving under 8-12 MPH) the prices were comparable. Now let’s look at the new Uber/Lyft prices after this recent reduction. (As of May, 2016)
- Uber: $1.50
- Lyft: $1.50
Cost per mile
- Uber: $.90
- Lyft: $.93
Cost per minute
- Uber: $.15
- Lyft: $.15
Both companies also have a $5 minimum charge and a $1.70 fee added to every ride.
Uber & Lyft Vegas Cost Analysis
As you can probably tell, Uber and Lyft prices in Nevada are about half of what they were when they launched last year. While the base price has only dropped 37.5%, the cost per mile is about half and the cost per minute is exactly half. In other words, Vegas went from a very expensive ridesharing city to a city where it is actually quite cheap. Just how cheap is it?
A Mother’s Day Bargain
This past weekend I sent a Lyft driver for my mom to pick her up and bring her to my brother’s house for Mother’s Day. She lives on the far end of town and picking her up would have meant a ton of lost time, so using a Lyft credit seemed like a good solution. Here are the stats for my mom’s rides:
- Ride 1 to my brother’s house: 23.50 miles, 32m 4s, $29.87
- Ride 2 back to her house: 23.90 miles, 30m 24s, $29.98
I don’t know about you, but I consider a 23 mile, 30 minute ride for less than $30 to be very cheap. I used a website called TaxiWiz to find out what a cab would cost and it quoted $62.71 without a tip for the same route. I honestly don’t see how the taxi companies can compete without lowering their prices.
New to Uber & Lyft in Vegas & Elsewhere?
If you are new to Uber & Lyft, you can get a free ride for signing up using my referral links. I’ll get a credit for a free ride too. If you are looking to drive, you may get a sign-up bonus as well.
- Uber Sign-up – Get $20 towards your first ride.
- Lyft Sign-up – Download the app and use code SHAWN1598 for a $20 credit towards your first ride.
Note: While the sign-up bonus is generally $20, this amount can vary depending on the current promotion and which city you live in.
Uber & Lyft have lowered their prices in Vegas once again. At this point the Uber Lyft Vegas prices are about half of what they were at launch last year and about half of what it costs to take a taxi. Based on what I have seen in and around town, ridesharing is gaining a strong foothold and with these new prices, I doubt the growth of Uber & Lyft in Nevada will slow down.