You would have expected this, wouldn’t you?
With Uber, Grab and traditional taxis fighting for the pie, you can expect a price war. Or many price wars. Not that it hasn’t happened: Grab and Uber have been coming out with a series of time-based promotions (even one that involved Joseph Schooling!), while traditional taxis have been giving out e-coupons for passengers who sign up or download their app.
The latest company to strike is Grab, a company founded in Malaysia and now headquartered in Singapore. The latest promotion that we’re aware of is an innovation deal in which you’ll get $3.00 off for any ride from an MRT Station in the Red or Purple Line. That, however, ended on 2 September 2016.
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Today (5 September 2016), Grab announced a price slash that’ll make Uber shiver: the new base fare is down to $2.55 from $3.00, and its per KM travelled is down to $0.68 from $0.80.
Now, for compassion’s sake, the base fare for UberX, the most affordable Uber service, is $3.00. The per KM travelled is $0.45, but there’s an addition per minute travelled at $0.20 per minute.
For traditional taxi, the base fare is from $3.20 to $3.90, with the total fare based on both distance and idling time (like the wait at traffic lights).
It’s therefore very difficult to judge which is still cheaper, as there are a few factors to consider.
GrabCar’s latest price slash was in April 2016, when the base fare was reduced from $3.50 to $3.00. This was following UberX’s reduction of their base fare from $3.00.
So, would UberX do a counter-attack and lower their fares as well? We consumers would definitely love that, but how about the drivers?
Here’s GrabCar’s response in their Facebook Page.
Maybe the drivers should be worried about even a greater threat: driverless taxis.
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Feature Image: Grab.com
This article was first published on goodyfeed.com
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