Zipping around the city on a rented bike has never been more popular, but the costs for riders in Canada and the U.S. are skyrocketing.
What happened: Per Bloomberg, Canadians and Americans took a record 157 million rides on shared bikes and e-scooters in 2023 — a finding that confirms Torontonians will truly do anything these days to avoid taking public transit or driving on the Gardiner Expressway.
- As the popularity of city biking explodes, operators are now hiking fares to cover the costs of running them, including battery swapping, insurance, and vehicle expenses.
- New Yorkers pay up to US$15.59 for a half-hour ride on the city’s Lyft-operated network. In some U.S. cities, a 15-minute e-scooter trip can cost four public transit fares.
Why it matters: The costs of renting bikes in Toronto and Montréal have risen over the years, but both cities have maintained affordable bike share programs because they are operated and subsidized by their city governments (though Lyft has been inching into a supplier role).
Yes, but: Taxpayer-funded programs are vulnerable to cost-cutting measures that could impact the availability and reliability of bikes. Both cities could keep costs down by slowing their expansion into e-bikes, and limiting their exposure to profit-seeking interests.—SB