In Fall of 2024, Lyft introduced Price Lock, a popular new feature that lets riders take control of their commute by locking in a predictable price for the rides they take most frequently. Customers loved it — with the vast majority coming back the following month, and taking more rides across the platform overall.
Now we’re expanding Price Lock to cover even more rides. After all, riders don’t just use Lyft for the typical 9-to-5 commute. Whether you’re headed to work during rush hour, working the night shift, or simply want price certainty for a regular ride at any time, we’re listening. So this month we’re introducing Price Lock around the clock to select riders, expanding the feature to include late night hours that accommodate non-traditional commutes and other rides. This is Lyft’s customer obsession at work, understanding our customers’ behaviors, patterns, and requests to create great experiences for all.
“Our innovation is informed by our customers,” said Audrey Liu, Head Of Rider and Community Safety. “We created Price Lock because we know many riders use Lyft to commute. But what's been unveiled post-launch are the use cases across so many different scenarios. Expanding Price Lock is another example of how we’re leading the industry in serving and connecting our customers, every day.”
The use cases for Price Lock around the clock are many and can apply to any place or person you visit with regularity. Here are five examples of how riders can lock in a price outside of their commute:
Fitness: Looking to keep your New Year's resolution to hit the gym in the morning? Lock in a predictable price and give yourself that much more motivation to resist the snooze button.
Regular haunts: It may be easier to stay home — but we feel so much better when we get out into the world. Price Lock can be used to hold you accountable for scheduling some regular “me time” at a favorite coffee shop, park, or restaurant.
Chores: Many riders use Lyft to accomplish necessary tasks, like going to the grocery store. Price Lock makes it even easier to plan when you’re going, and how much it will cost.
Healthcare: Lack of transportation access is a leading reason that people miss medical appointments. Price Lock takes the guesswork out of figuring out how to get to those regular doctor visits so you can take care of what matters most.
Situationship busting: What better way to commit to a relationship than locking in a price to your sweetheart’s house for an entire month?
Customers can sign up for Price Lock in the menu section of the Lyft app. Tap “Price Lock” twice to view details, modify, pause, or cancel your Price Lock pass.
Forward-Looking Statements Certain statements contained in this announcement are “forward-looking statements” about Lyft within the meaning of the securities laws, including statements about Lyft’s product launch and its features and offering. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft’s filings with the Securities and Exchange Commission. Lyft does not undertake an obligation to update its forward-looking statements to reflect future events, except as required by applicable law.
