Drivers for ride-hailing firms such as Uber and Lyft have protested loudly in recent months, as the price war between the firms heats up, meaning drivers are seeing their fares slashed. However, a new problem is now emerging as a result of the reduction in driver income: they can no longer afford to run their cars. The rise in car ownership has been accompanied by an increase in demand for drivers. Kelsey is referring to the $800 per month he needs to pay for his leased Prius, which was affordable when he first started driving for Lyft, but after five fare cuts, he can no longer afford the payments.
Drivers for ride-hailing firms such as Uber and Lyft have protested loudly in recent months, as the price war between the firms heats up, meaning drivers are seeing their fares slashed. However, a new problem is now emerging as a result of the reduction in driver income: they can no longer afford to run their cars. A Lyft driver identified only as Kelsey states: “We have had five rate cuts since I started driving…Right now it’s just not economically viable anymore.” Kelsey is referring to the $800 per month he needs to pay for his leased Prius, which was affordable when he first started driving for Lyft, but after five fare cuts, he can no longer afford the payments.