NEW YORK — Uber Technologies announced Friday it is slashing prices in more than 100 U.S. and Canadian cities in an effort to increase demand for the ride-sharing service.
“Five and a half years in, we’ve learned that the single most effective way to boost demand during the winter slump is to cut prices for riders,” Uber said in a blog post.
The price cuts will begin on Saturday.
But not every major city will see a price cut, according to Business Insider. New York, Chicago and Boston will have the same prices. New Jersey will see lower fares.
The ride-sharing company said it’s seen a decrease in rides in the month of January. It cited Boston, Washington, D.C., and Los Angeles as places where it has previously cut prices and experienced higher demand.
“Our goal for 2016 is simple: better, smarter way of getting from A to B that saves riders money and increases earnings for drivers,” Uber said.
The company said the price cuts will be in effect indefinitely.
The decrease in price does mean drivers make less money for each ride. However, higher demand for rides should compensate for it.