Update – 30 December 2017! Uber Fare Revised Upwards
Uber has announced that fare will be revised with effect from 1 January 2018.
Fares for your regular UberX, ride-sharing UberPool, family-friendly Uber Car Seat, LiveUp and UberAssist will all see fare revisions.
The fare revision announcement was first seen in the Uber Rider App. The official announcement of the fare adjustment is announced on 30 December 2017, 2 days before it takes effect.
Fare Revision Up
The majority of private-hire drivers have been speculating that this round of fare revision by Uber is bound to see an increase in fare. Drivers who have been driving private-hire from the beginning have experienced multiple fare-cuts and reduction in incentives over the past few years as Uber reduced prices to attract riders and compete with Grab. Fares have hit an all-time low and it is unlikely to go even lower.
New Uber Fare with effect from 1 January 2018
The base fare will remain the same. The increment will come in the per kilometre and per minute fare in computing the upfront fare. Both the per kilometre and per minute will see an increment of $0.02.
Example – A 25 min ride of 25km in 2017 will cost = $3 (base fare) + $0.45×25 + $0.20x$25 = $19.25
A 25 min ride of 25km in 2018 will cost = $3 (base fare) + $0.47×25 + $0.22×25 = $20.25
Changes in Uber
One of the major deals in 2017 involved Comfort Delgro and Uber’s Lion City Rental. Comfort Delgro, Singapore’s largest taxi company, purchased a controlling stake in Uber’s Lion City Rental. The deal consolidated a fleet of 14,000 taxis from Comfort Delgro and 14,000 private-hire car cars Lion City Rental, making a run at Grab attempt to dominate the market and disrupt Grab’s aggressive Never Seen Before rental program targetted specifically at Comfort Delgro Taxi Drivers.
Improving Driver’s Experience
If you have been following closely, you would have read about Uber’s commitment to improving experience and earnings in 90 days. In part 1 of changes, the focus was on Flexibility, where Uber made changes to give greater flexibility to drivers. Part 2 of changes focused on Experience, where changes are made to give better support to drivers.
The last part of changes, which is due to be announced in January 2018, is focused on Driver’s Earnings. This is also the most important change that drivers are looking forward to.
With the next round of change on Driver’s Earnings to be announced shortly, it is predicted that drivers can expect the fare revision to be revised upwards.