Uber launches "price lock" feature in Nashville

Uber unveiled new features this month focused on affordability, including ride passes that will help users lock in lower fares on familiar routes.

Why it matters: Consumers are feeling deeply pessimistic about the economy, according to the Conference Board's most recent consumer confidence survey.

• "There's a lot of concern about things just being expensive," Sachin Kansal, Uber chief product officer, told Axios. "So affordability and the need for affordable products is something that has come through loud and clear."

Zoom in: Ride passes, which are coming in Nashville and other select markets before rolling out more widely, are designed to "help riders lock-in lower fares and keep costs predictable on trips they frequently take," Uber officials said.

• Riders pay $2.99 to set a maximum route price for 30 days or $50 of savings, whichever comes first.

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