Ridesharing is finally coming to Vancouver. After a long wait, B.C. finally confirmed government approval for two rideshare services to begin operations in the city, namely Uber and Lyft. In an announcement by Lyft's General Manager Peter Lukomskyj, the pricing details for Lyft Vancouver have been revealed.
According to the post, passengers in Metro Vancouver will be paying at least $5 every time they hop into a Lyft.
Each ride will begin with a base fare of $2.50, with an additional $2.50 cover fee. This doesn't include the cost per kilometre and per minute.
In total, Lukomskyj's pricing breakdown shows that you can expect to pay a $0.65 per kilometre and $0.33 per minute when you use Lyft in Vancouver.
Compared to traditional cab companies in Vancouver, though, these prices are significantly cheaper. Taxis in the city charge a base fee of $3.25. The price per kilometre is also higher at $1.84, according to rate information gathered in August 2019 by Taxi Calculator.
Taxi Calculator notes that these prices are subject to change. However, this can still give you a general idea of how taxi pricing compares to ridesharing.
According to BIV, a ride from Canada Place in downtown Vancouver to the Walmart outlet near the city’s border with Burnaby would take around 22 minutes.
Based on Lyft's pricing breakdown, that would mean a ride would cost you about $18.44. Other fees would still be applied, but all in all, it's a good price.
If you were to take the same 9.5 km ride with a regular taxi company in Vancouver, you could expect to pay around $20.80.
.@lyft has released rider pricing for Metro Vancouver. Taking a Lyft will cost you a minimum of $5. @Uber not relea… https://t.co/KbXHWP8bTV— Travis Prasad (@Travis Prasad)1576268236.0
Back in October of this year, the city council in Vancouver voted to add the $0.33 pick up and drop off fee between 7 a. m. and 7 p.m. for "metro core". This makes up most of downtown beyond Commercial Drive and north of 16th avenue.
Earlier this year, it was announced that Lyft would be launching in Vancouver in the fall.
While it was exciting news, it was touch and go for a while as it was speculated that rideshare may not be able to operate outside of Metro Vancouver.
According to BIV, Lyft is still waiting for the license to operate before launching services.
However, Uber and Lyft are both hiring drivers, which could mean that it's only a matter of time until ridesharing finally arrives.