Grab latest promo – Premium “Economy” Service

Today, Grab announced the re-pricing of their Grab Premium fares effectively slashing the fare by more than 50%.
According to Grab’s communication to their premium drivers, the new pricing kicks in on 29 May. “GCP is reducing its prices to get you higher demand during the school holidays” their sms reads. One notable change is the minimum fare of $15 is reduced to $6.
Several GrabPremium Drivers reported to RoadTimes that for the past months, Grab has been dishing out attractive promotions to both the rider and drivers to entice them into the product.

However, it was observed that it failed to gain any traction trying to attract riders. When the promotion to riders dropped from $15 to $10 off the fare, the ping-rate dropped drastically by as much as 80%! The drivers were struggling to hit their target for incentive which is the bare minimum to keep their cars on the road.

Now with this re-pricing, it seems that Grab is going all out to out-price their competition. One driver, we spoke to said that “Slashing the price to entice riders to the service is not a long-term solution and we hope it is not here to stay. We have a minimum cost to keep our car on the road, our petrol and maintenance cost is higher than the normal cars We are better off not taking a trip at all on the Grab platform as the fares are upfront and will not factor in traffic jams and unforeseen delays.”

Many of the Premium Drivers we spoke too are not enthusiastic about the new promotion. They are keenly waiting for Sunday when Grab will be announcing the incentive for Premium Drivers to help with their earnings.

“It has to make financial sense for the drivers, as it is, we are better off not driving for Grab during this period.” said one Premium Driver.