Uber Warns of Price Hikes, Longer Wait Times After Toronto’s Cap on Ride-Share Licences

Uber Warns of Price Hikes, Longer Wait Times After Toronto’s Cap on Ride-Share Licences
A screen displays the company logo of Uber Technologies Inc. on the day of its IPO at the New York Stock Exchange (NYSE) in New York on May 10, 2019. Brendan McDermid/Reuters
Andrew Chen
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Uber expressed dissatisfaction with Toronto City Council’s recent decision to impose a temporary freeze on new ride-share licences for up to one year. The company cautioned that the move could lead to increased prices and extended waiting times for customers.

“Mayor [Olivia] Chow’s cap will ultimately hurt the diverse group of Torontonians who rely on rideshare as part of their transportation mix and those who drive rideshare for additional income, especially in a time of rising costs,” Uber Canada said in a statement on Oct. 11.