Uber and Lyft Offer Incentives to Bring Drivers Back
As communities are opening up and more people are being vaccinated, the demand for rideshares is growing. As a result, Uber and Lyft have a shortage of drivers.
In 2020, many drivers weren’t able to get enough rides to make it worth their time. According to an Uber blog post, “In 2021, there are more riders requesting trips than there are drivers available to give them—making it a great time to be a driver.”
Uber announced that they had their highest monthly Gross Bookings in their almost 12-year history in March. The Gross Bookings were up nine percent month-over-month, and their mobility business had its best showing since March 2020, reaching a $30 billion annualized Gross Bookings run-rate.
Since there are not enough drivers to meet the demand, Uber has launched a $250 million stimulus to boost drivers’ earnings.
This increased hourly earnings are only temporary and will scale back as more drivers get back on the road.
Lyft is also offering incentives to get drivers back to meet the demand. Instead of a temporary hourly raise, the company is offering bonuses for a certain amount of rides. One offer reported was $250 for 20 rides in one week.
Forbes also noted that Lyft is offering up to $800 bonuses to former drivers to get them back on the app. They are also offering extra pay if it takes longer than nine minutes to pick up a passenger.
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