That Uber is a far better transportation option than taxis is a pretty unanimous understanding at this point. There are many reasons for this, but the most defining one is that it’s considerably less expensive.
UberX promises to offer fares that are 40 per cent cheaper than those of a cab, a number that’s often far from guaranteed and subject to fluctuations. Some of them quite absurd.
So how much do you actually save by opting for “everyone’s private driver” instead of the ol’ taxi cab? Well, that depends on where in Canada you live. One thing’s for sure, though: it’s a financial no-brainer.
A study by The 10 and 3 that looked at UberX fares in nine of the company’s 10 Canadian markets calculated, by percentage, how much riders saved depending on where they lived. It determined that those in Toronto, Ottawa, and Montreal see the largest gain in picking Uber over a taxi, where customers save 50%, 44% and 41% of what their average taxi fare would be, respectively.
That’s right, taking Uber in Canada’s largest city costs just half the price of dialling the orange n’ green.
Quebec City (24%) and Hamilton (29%), meanwhile, see the least savings, though still nothing to call a cab over. The only time taking a taxi is monetarily advantageous is during Uber’s surge pricing periods; as a general rule to follow, it would be wise to begin looking for a cab when surge prices pass the 2x mark, but sometimes even sooner.
Here’s a full breakdown of the numbers: