Here's The Infographic Uber Sent Its Drivers To Explain The New Price Cuts

Uber is guaranteeing its UberX drivers will make a minimum of $US1,000 a week in net fares for the next two weeks.

The only rule is that you must be online for 40 hours a week for the next two weeks. Drivers also have to accept a minimum of 90% of trip requests.

This is all part of Uber’s summer price cuts for UberX in New York. On Monday, Uber announced it would cut its prices by 20% for UberX in New York. The price cut makes UberX cheaper than a regular taxi cab in New York.

This might sound counterintuitive, but cutting prices, Uber says, will actually allow drivers to make more money. That’s because cutting the cost helps increase demand. Even though a driver might make less money on individual trips, they will end up completing more trips and therefore making more money than normal.

The new UberX pricing structure also now pays drivers for both time and distance. Before, drivers were only paid for time or distance.

Check out the email Uber sent out to its NYC drivers Sunday night for more details.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

lyft sai-us uber