Thursday, January 19, 2017

Yellow cabs are rapidly dying off in NYC, down 27% since 2010

there are now about 3 times as many Uber, Lyft, and limo services as yellow cabs.

Overall, there are more than 60,000 so-called "black cars"—NYC-speak for a for-hire vehicle that must be summoned by some sort of dispatcher or app—roaming the streets of the five boroughs, according to city data. Uber vehicles make up the largest percentage of that, with around 46,000 of those. There are just 13,687 yellow cabs in the city.

Taxis made an average of 336,737 trips per day
 Uber-affiliated cars alone averaged 226,046 trips per day
 Lyft-affilated vehicles averaged 35,908 daily rides that same month,
Via racked up an average of 21,698 trips per day,
 Juno rang in 20,426,
 VW-backed Gett averaged 7,227.

The value of taxi medallions, which give drivers the right to drive a yellow cab in the city, has taken a precipitous dive, at the peak of their value in 2014 a NYC taxi medallion was worth around $1.3 million before ride-hailing services began to arrive on the scene; today, they are listed for as little as $250,000.

John Hertz, the founder of Hertz car rental company, started the Yellow Cab Company in Chicago in 1915. Yellow became the official color of New York’s medallion taxis in 1967.

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