Following the launch of Bolt in Zurich, taxi drivers have reported the start of a price war in the city. Just a few years after you’d be lucky to get a taxi to the airport for less than 50 francs, both Bolt and Uber have offered rides for as little as 15.
According to taxi drivers in Zurich, a discount battle is currently raging between providers, which has driven down prices for consumers. Previously, Uber was the only ride-sharing service in the city, having launched in the Swiss metropolis back in 2013.
However, this monopoly was challenged with the arrival of Bolt in May 2024. Since its launch, the Estonian-based company has gone on the offensive, offering discounts of up to 50 percent in their first few months of operations.
The cost of Bolt rides from the city centre to the airport has sunk to 15 francs in some cases, compared to the roughly 30 francs offered by Uber and the 50 to 60 francs demanded by normal Swiss taxi services. Prices for shorter rides within the city itself have also fallen significantly, to the point that if you are in a group, taxi rides are often cheaper than using public transport.
Now, while the international company refused to confirm it, taxi drivers speaking to the Tages-Anzeiger confirmed that "Uber has to follow suit and has also lowered prices in Zurich." Just recently, Uber users were offered a “60 percent discount on your next 10 trips” - the driver confirmed that when fares are on discount, drivers still receive the full fee.
Bolt is also trying to undercut Uber when it comes to the drivers themselves. Speaking back in April, Bolt Switzerland head Patrick Frei told the Tages-Anzeiger that their drivers keep 95 percent of their fares in the first two to three months of working for the company, after which 20 percent of the taxi fare is paid to Bolt - for Uber it is 25 percent.
For their part, Uber refused to disclose how much it was spending in its attempts to keep up with Bolt, nor how its arrival has impacted the number of drivers it has.
As the fight between Bolt and Uber heats up, regular Swiss taxi firms are relaxing by the side of the ring, with most assuming that current prices are unsustainable and will rise again soon. Rudolf Raemy, President of the Zurich Taxi Section and SVP city councillor, said that he expects customers to become more picky in their choice of transport, which will lead to a return to regular taxis. When it came to profitability, Raemy concluded that, "As we all know, the cake is not getting bigger, it is simply being distributed among more players."
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