Uber to Drop Prices in 80 Cities in the U.S. and Canada
Drivers will receive earning guarantees in affected cities. Los Angeles, San Francisco, and Houston will be among those seeing cuts.
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Uber Technologies will drop prices in 80 North American cities starting on Saturday. The ride-hailing company hopes the move will increase demand in a seasonally slow month.
Uber said it will cut prices in Los Angeles and San Francisco by 10 percent, Houston by 20 percent, and Richmond, Virginia, by 15 percent. Prices in some cities, including New York and Chicago, will remain unchanged for now. Fare reductions will eventually be extended to 100 cities, the company said. "We believe in price cuts when demand slows down," said Andrew Macdonald, a regional general manager for Uber.