Lyft is increasing driver pay for longer trips and introducing new features to attract more drivers.

From Investing.com: 2024-10-08 09:25:56

Lyft is increasing pay for longer trips and prioritizing safer drivers to attract more drivers to the platform. The company is introducing new features like an earnings dashboard, preferred drivers program, and matching electric-vehicle drivers with suitable rides. Lyft aims to continue growing its pool of 1.3 million drivers.

The ride-hailing company is implementing strategies to compete with Uber in the U.S. market by offering competitive pricing and driver recruitment programs. A new feature will display estimated hourly rates for rides and pay more for longer-than-estimated trips. These features are not available on Uber’s platform.

In the last quarter, Lyft saw a surge in new drivers, with a 34% increase in women and non-binary drivers compared to the previous year. The company previously promised drivers a minimum of 70% of their earnings each week, a first in the U.S. ride-hailing industry. Lyft also announced partnerships with Merit America and Stride Health to offer free courses and affordable health insurance for drivers.



Read more at Investing.com: Lyft unveils improved pay measures to attract more drivers By Reuters