UberX, the least expensive version of Uber's car services, has just gotten even cheaper.
Uber announced today that it would slash UberX prices by 15 to 34 percent in 16 of the 24 total cities where it currently is available. This includes Atlanta, Baltimore, Charlotte, Chicago, Dallas, Denver, Indianapolis, Los Angeles, Minneapolis, Nashville, Orange County, Phoenix, Sacramento, San Francisco, Seattle and Tucson.
Now, a voyage from Beverly Hills to Santa Monica might cost $26.80 by taxi, for instance, but a mere $15.83 via UberX, which utilizes hybrid vehicles rather than traditional black cars.
This means that in some instances, UberX will be even "cheaper than the bus (with fare splitting)," writes Uber CEO Travis Kalanick in a post on the company's blog.
Uber is more reliable and economically accessible with higher quality vehicles and more accountable drivers "than any other ride," Kalanick added.
He attributes the company's ability to offer such competitive prices to "the network effects of our business. More cars and drivers mean better coverage and lower pickup times. Lower pickup times mean better economics for drivers, and thus more drivers and cars. And we want to deliver that value to our customers."
Copyright © 2013 Entrepreneur.com, Inc.