Uber, Lyft plans to adjust revenues amidst rising Delta variant in the US
When ride-hailing companies like Uber, Lyft, and others just started to make up for their lost revenue. After having a strong Q2, the increase in Delta Variant complicates their efforts, by increasing uncertainty. As the variant spreads as fast a Chicken Pox, people are avoiding taxis or other kinds of common transportation. Additionally, the companies are focused on luring drivers back with safety measures and other requirements.
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Initially during the second quarter, Uber, Lyft was able to lure drivers with incentives. Because the pandemic has cost many jobs, left many people unemployed for a long time as per Analysts at KeyBanc Capital Markets. The data showed that there is an expected price drop of 5.5% in fares to $14.5 as minimum fare.
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