Car-hailing service Uber takes on NYC taxis with sale 

click to enlarge In this Thursday, Feb. 27, 2014 file photo, New York City taxis drive through New York's Times Square. The car-hailing service Uber is taking on New York City's taxis, temporarily dropping some of its prices by 20 percent starting Monday, July 7, 2014. - AP PHOTO/RICHARD DREW
  • AP Photo/Richard Drew
  • In this Thursday, Feb. 27, 2014 file photo, New York City taxis drive through New York's Times Square. The car-hailing service Uber is taking on New York City's taxis, temporarily dropping some of its prices by 20 percent starting Monday, July 7, 2014.

The car-hailing service Uber is taking on New York City's taxis, temporarily dropping some of its prices by 20 percent.

The company says the price of its UberX lower-end service is now cheaper than the rate charged by the city's famous yellow cabs.

The sale in the nation's largest city — one heavily dependent on taxis — comes following similar temporary reductions in the past month in Atlanta, Boston, Washington D.C., Los Angeles, Chicago and San Francisco. Uber says if the reduced fares attract more passengers, it's more likely to keep the prices low.

Founded in 2009, Uber connects cars with passengers though its GPS-enabled smartphone app. With UberX, customers catch rides in run-of-the-mill sedans and minivans. A higher priced service features shiny black Town Cars.

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