Bolt to allow London drivers to set their own prices

Monday, November 15, 2021 at 10.48

In an attempt to tackle driver shortages, which has led to longer waiting times and increased cancellations across the driving sector, Uber’s biggest rival in the capital Bolt said this morning that it will allow drivers to set their own prices.

Drivers often accept travel requests, but then reject them after receiving more cost-effective options, Bolt explained. This leads to a “bad experience for customers”, said the Estonian start-up.

The ability for drivers to choose their own prices will be tested in several UK cities from this week ahead of a planned rollout across the country before Christmas.

Drivers will be able to choose their prices within a range or use Bolts standard prices, which vary based on supply and demand. A feature that allows passengers to select their driver from a list is also being introduced.

Sam Raciti, Bolt’s manager for Western Europe, said: “Drivers have consistently asked us for the option of setting their own prices so they can ensure a journey is profitable enough before it is accepted.

“By making these changes, we hope to reduce the wait time on the Bolt app and have fewer driver cancellations so customers can get to their destination quickly and safely following increased demand in recent weeks.

“We have built our business around giving drivers total flexibility.

“These changes are part of that philosophy and will create a better functioning marketplace.”

Rival company Uber raised its prices in London by 10% last week in an attempt to attract more drivers.

Bolt said it has “grown fast” in the UK since its launch in London in 2019, due to having commission rates lower than those charged by other companies.

It added that it has more than 65,000 drivers and four million customers in 14 English cities.

Minicab app company Bolt has announced that it will allow drivers to set their own prices.

The company said it was introducing the measure in an attempt to tackle driver shortages, which has led to longer waiting times and increased cancellations across the sector in the UK.

Drivers often accept travel requests, but then reject them after receiving more cost-effective options, according to Bolt.

This leads to a “bad experience for customers”, said the Estonian start-up.

The ability for drivers to choose their own prices will be tested in several UK cities from this week ahead of a planned rollout across the country before Christmas.

Drivers will be able to choose their prices within a range or use Bolts standard prices, which vary based on supply and demand.

A feature that allows passengers to select their driver from a list is also being introduced.

Sam Raciti, Bolt’s manager for Western Europe, said: “Drivers have consistently asked us for the option of setting their own prices so they can ensure a journey is profitable enough before it is accepted.

“By making these changes, we hope to reduce the wait time on the Bolt app and have fewer driver cancellations so customers can get to their destination quickly and safely following increased demand in recent weeks.

“We have built our business around giving drivers total flexibility.

“These changes are part of that philosophy and will create a better functioning marketplace.”

Rival company Uber raised its prices in London by 10% last week in an attempt to attract more drivers.

Bolt said it has “grown fast” in the UK since its launch in London in 2019, due to having commission rates lower than those charged by other companies.

It added that it has more than 65,000 drivers and four million customers in 14 English cities.

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