Uber projects $20B AV bookings by 2029 and explores driver subscription after 9.6% price rise
Uber generated $10 billion free cash flow and returned over $6 billion to shareholders last year while outlining five strategic pillars including core reinvestment, AV investment, and M&A discipline at its March conference. The company is also testing a global driver subscription model following a 9.6% rise in ride prices and aims for Level 4 AV readiness by 2027 to add $20 billion in gross bookings by 2029.
1. Strategic Roadmap and Cash Returns
At the Morgan Stanley conference, Uber’s CFO outlined five pillars—core business reinvestment, autonomous vehicle spending, a high M&A bar, shareholder returns, and maintaining an investment grade rating—and highlighted last year’s $10 billion in free cash flow and $6 billion returned to shareholders.
2. Autonomous Vehicle and Growth Targets
Management set a goal for Level 4 autonomous readiness by 2027 through OEM partnerships and infrastructure build-out, projecting that AV and grocery services could contribute over $20 billion in gross bookings by 2029.
3. Driver Subscription Model Initiative
In response to a 9.6% rise in ride prices, Uber posted for a product manager to develop and test a global driver subscription package, aiming to shift from per-ride commissions to flat-fee models and enhance competitive positioning.