Analysis of Week Ending August 19, 2024 for Uber and Lyft in Nashville

For week ending August 19, 2024, these are my earnings with Uber and Lyft.

Takeaways

1. Lyft is paying more per hour than Uber.
2. Overall hourly earnings are down to $23.11.
3. Overall earnings per trip are just above $10.68
4. Tips are lower on Lyft than Uber.
5. Excluding tips, earnings with Uber are Just $20.12 per hour. By comparison, Lyft earnings are $23.97 per hour, or 19.1% more.

These numbers are shocking to me. I know that the rides being offered by Uber have felt crummy lately, but actually breaking down the numbers proves it. I’ll be exclusively driving Lyft for a while.

I figured out my average Miles Per Hour for July 2024 and it is 34.68. At that rate we get this breakdown by mile.

Astonishingly, Uber’s per mile is fully $0.10 below the IRS standard mileage deduction. That means that drivers are operating at a loss where income is concerned.

Lyft is paying right at the standard deduction. This is simply mind blowing how far earnings have dropped.

Lyft Earnings for Week Ending 8/19/2024 of $261.93

Uber Earnings for Week Ending 8/19/2024 of $896.67