🔓📈 NYC Uber & Lyft Utilization Rates Rebound. Lockout Risk Declines, As Uber Monopoly Takes Hold
Uber & Lyft's NYC utilization rates (UR), or how busy a driver is kept while on the apps, jumped in September. Risk of app lockouts decrease, but taxi industry & other FHV sectors still struggling
Just a few weeks ago, based on the latest available TLC data at the time, we published an article about rapidly declining Uber and Lyft NYC utilization rates (UR).
🔒📉 NYC Uber & Lyft Utilization Rates Rapidly Declining. Lockouts Soon?
Newly launched TLC Factbook shows rapidly declining Uber & Lyft utilization rates (UR), or how busy a driver is kept while logged into either app Seasonality might impact UR, but unclear UR is key metric used in TLC Driver Minimum Pay calculation for high-volume bases (currently only Uber & Lyft)
We don’t want to repeat the whole article and overview why UR is so important, but we did mention seasonality might impact Uber & Lyft’s UR, which is used in the TLC driver minimum pay formula.
Well, it appears, both Uber and Lyft NYC strongly reversed a declining UR trajectory, with Uber NYC breaking a 60% UR (📈) and the industrywide year-to-date (ytd) UR increasing above 55%, well above of the 53% UR floor.
Lockout Probability Decreases, But *New* NYC Uber Drivers Might Be Onboarded
Firstly, we are glad to see UR this healthy as it implies NYC Uber & Lyft drivers are busy, which should hopefully translate into stronger earnings for drivers who work on the apps (Note: this is different than ALL TLC-licensed drivers). This should also presumably decrease the risk of lockouts, or the Uber/Lyft planner ret…
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