When if ever will Uber raise rates?

Hadenough

Well-Known Member
Uber launched in June 2012 in London , nearly 7 years ago. In that time rates have fallen and commission increased. My guess is it will be more than 5 years before rates increase, maybe more. With inflation running at 2% per year then washing dishes or working at Maccy D's is looking a better long term proposition.

So if you were taking home £950 a week 7 years ago (before expenses), you would now need to earn £1,090 a week to keep pace with inflation. In 5 years from now you would need to take home over £1,200 just to have the same standard of living. That ain't gonna happen.

To put this into perspective you will have to work 27% more hours per week that you once did to have the same standard of living. As some drivers are working to the max already it will be mission impossible to work another 27% longer per week.

Uber Boys get the dish cloth's ready.
 

Harold Shand

Well-Known Member
Why should they ? They have a long queue of idiots waiting to work for the current rates. Look at the app. There's thousands of them. When and if the competition is gone, then they will raise rates to become profitable. But don't expect to see any of that money as a driver. The raise will all go to the shareholders.
 

Drizzle

Active Member
Actually ive been doing this for a couple years, everytime they get a lot of negative publicity they raise the pay, they raise the incentives for a little while then lower the pay incrementally. Honestly they are going to get a lot of fresh cash from investors and they will spend it all and more recklessly and some of that will be through incentives.
 

Ssgcraig

Well-Known Member
I think they will eventually raise the rates. I ask just about all my pax if Uber was more expensive than a taxi, would you still take Uber? 99% say yes. I ask them if it was double the price, they say probably. It's a superior product and should claim a better price.
 

Hadenough

Well-Known Member
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  • #16
Just found out that UBER has over 22,000 full time employees - WTF? No wonder they don't make money. This business needs a good programming department , IT Support and a Help desk and nothing else.
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Maybe if you stop the cheap supply of labour (that means shutting down borders - in most developed nations) , then the likes of Uber won't have an endless supply of labour , which is what they rely on. Take the immigrants out of the equation and Uber could not operate on their current business model.
 
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Hadenough

Well-Known Member
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Nope stopped driving for Uber in January. When I done my Tax Return I realized how big my expenses were , compared to my income. Not much above minimum wage. For the hours I worked I would have made more in MacDonalds.
 

Harold Shand

Well-Known Member
I think they will eventually raise the rates. I ask just about all my pax if Uber was more expensive than a taxi, would you still take Uber? 99% say yes. I ask them if it was double the price, they say probably. It's a superior product and should claim a better price.
Yes. And in other news if a Prius was double the price of a Bugatti they would all still drive a Prius. Some of you are a perfect example of why the word Gullible was invented. Uber was made for people just like you.
 
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