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Lyft launches monthly subscription for half price • londonbusinessblog.com

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Ride-hail giant Lyft has relaunched Lyft Pink, its monthly subscription, for half its previous price. At $9.99 per month or $99 per year, the new membership offers benefits such as free priority pick-up and a “at least” 5% discount on Preferred, Lux and XL rides, the company said. said Tuesday.

Members also receive three free cancellations per month, a free monthly bike or scooter unlock, free Sixt car rental upgrades, up to four times a year roadside assistance for your own car and Grubhub+ discounts.

Previously, Lyft Pink offered members discounts on all rides. The company said members saved an average of $29 per month on rides, not including the membership fee. So really they saved an average of $19 on rides.

Lyft is also aiming for a higher tier or membership for riders who enjoy getting on bikes and scooters. The Lyft Pink All Access plan, for $199 per year, has all the benefits of Lyft Pink with unlimited 45-minute bike rides, free unlimited unlocking of e-bikes and scooters, discounted e-bike or scooter minutes in participating citiesand three bicycle or scooter guest passes per year, according to Lyft.

Top drivers who are enrolled in Lyft Rewards, the ride-hail company’s driver rewards program, now also have access to a free monthly Lyft Pink membership, the company said.

Ahead of third-quarter earnings, Lyft is doing work to get more riders on board and increase margins. The company last week increased the service fee it collects from riders to counter the rise in insurance costs.

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