Lyft tests $199 monthly subscription plan for rides
CNN/Stylemagazine.com Newswire | 3/19/2018, 7:59 a.m.
Lyft is experimenting with a new subscription model as it tries to find more ways to end car ownership.
Source: From Lyft
Matt McFarland
(CNN Money) -- Lyft is experimenting with a new subscription model as it tries to find more ways to end car ownership.
Rather than a traditional monthly car payment, some Lyft passengers can pay a monthly fee for access to its network of transportation services.
For a couple months, Lyft has been offering select users an upfront monthly price option to secure a set amount of rides. The plans range from $199 for 30 rides to $399 for 60 rides. According to screenshots from users on social media, the offer applies to rides under $15.
The news surfaced Thursday after Lyft riders shared screenshots on social media for the offers. Lyft CEO Logan Green hinted earlier this week at the new program in an unrelated news conference about its self-driving partnership with auto supplier Magna.
Green described how in the future a person could purchase 1,000 miles of transportation for $200.
The ridesharing company is betting on the trend of products transitioning to services. For examples, many consumers are streaming movies and music online, rather than buying DVDs or CDs.
Lyft isn't the only one that's experimented with bundled rides for lower prices. Its competitor Uber has offered periodic discounts on rides when customers buy in bulk.
Lyft, which provides 11 million rides a week, believes it's in the early days of disrupting transportation. Green said Wednesday that Lyft's mission is to shift 80% of vehicle miles traveled nationwide to ridesharing.
