Lyft is Hiring More Drivers to Fight Rising Prices

Lyft is hoping to avoid surging prices for customers by hiring more drivers.

Lyft CEO, David Risher, announced during a company earnings call this week that the balance between active drivers and riders had improved.

Rischer explained that when ride-share companies do not have enough driver supply, the prices begin to surge. This is labeled as “primetime” by the company.

Risher said that Lyft is working hard to get rid of primetime and build up its driver supply. Risher noted that Lyft rides that saw price surging were decreasing quarter-over-quarter.

Lyft is battling high prices and also other ride-share companies like Uber. Although Uber offers food delivery and other services, the company’s CEO, Dana Khosrowshahi, said the steps Lyft have taken has brought a “constructive competitive marketplace,” per Fox Business.

According to Risher, the company is focusing on competing with service and differentiation in the market now.