Uber, Lyft Fares Predicted to Fall 80% by 2030

Global bank UBS has predicted that Uber and Lyft fares could decrease by as much as 80% by 2030, Consumer Affairs reports.

Analysts at the bank ran a simulation to predict the future of ride-hailing in New York City. In particular, the simulation looked at the future of autonomous taxis and their potential impact on ride-hailing. 

"The average fare paid by passengers could fall by more than 80% and become cheaper than a metro ticket," UBS analysts wrote in a report. "In such a scenario, the robo-taxi fleet would still generate a healthy profitability margin of more than 30%."

The study also predicted a $2 trillion "robo-taxi" market by 2030.