The North American rideshare market share battle is on. Lyft expands into its first market outside the U.S. with the launch of Toronto, after gaining share throughout 2017 in the U.S. Uber, which should have even more cash soon, will counter with improved driver services and, we should expect, lower prices and subsidies for riders, as it attempts to retain customers. Prices will race lower, further challenging Uber and Lyft’s plans for 2019 IPOs.
Lyft is growing beyond its home market of the U.S., with a launch planned next month in Toronto, the largest city in Canada. Residents in the greater Toronto area (and nearby Hamilton will be able to hail vehicles from five of its service options starting in December.