Uber news: Uber CEO sees surge prices easing up by end of year

From CNBC:

Uber has been struggling with high ride costs and long wait times throughout the pandemic. But that’s expected to change as the company enters the back half of its year, CEO Dara Khosrowshahi told CNBC on Tuesday.

The shift comes as more drivers return to its platform and supply and demand issues balance out, he said during a “Squawk Box” interview.

“What we did was, early on we identified our need to bring on more drivers onto the platform. So, in the second quarter, we really leaned into supply, especially in the United States, to reinvigorate our driver base and grow our driver base in the U.S.” Khosrowshahi said. “We’re seeing that now, the benefits of that early investment, in Q3.”

“I do think what we’ll see is pricing is going to ease up as we go into the back half of the year and volume will especially accelerate,” he added.

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