Uber slashing rates in NJ to combat ‘winter slump’

Uber's having a winter slump — and hoping price cuts across New Jersey boost business.

The company announced Friday it's slashing prices 15 percent throughout the state, and 50 percent at Newark Liberty Airport. The price cut takes effect on Saturday at noon, the company said.

It's part of a larger effort to slash prices across the United States and Canada "because the post-holiday slowdown typically keeps people at home and not riding Uber, which hurts drivers' bottom line," Uber said in an announcement of the lower rates.

Uber rides are based on standard rates for a given area, though the company also hikes fare costs (with warnings in advance) during busy hours, to draw more drivers to the road.

"For drivers, higher demand from lower prices means more time moving people, less time spent waiting around and more money in their pockets," Uber wrote in its announcement Friday. "And we aren’t just asking drivers to take our word for it: we are providing guarantees and incentives until it is clear that this will be the case."

The company has offered the following sample rates"

Hoboken to Jersey City
Old uberX: $7.51
New uberX: $6.38

Asbury Park to Point Pleasant
Old uberX: $29.48
New uberX: $25.06

Newark Liberty Airport to Jersey City
Old uberX: $41.25
New uberX: $16.02