Yellow Taxis Still Winning Over Uber in NYC
New York City without yellow cabs is like Kim Kardashian without the nude selfies–unfathomable and not likely to disappear anytime soon. Recently, though, many people have become worried that these iconic yellow taxis have started to lose business to the likes of ride-sharing programs like Uber.
Well, worry warts, worry no more. A recent report from Morgan Stanley has revealed that yellow cabs are still the king of the road in the Big Apple.
Does Your Car Smell? Learn how to remove unwanted odors from your car
The report states that taxis registered 11.1 million rides in April of 2016. This is about 400,000 trips a day. Yes, this is a decline compared to last year, but it is actually more than double the number of trips Uber, which is its closest competitor, has managed to log.
While this number by itself is extraordinary, it gets even better. Not only was the taxi industry the leader in transportation choices for New York City, but it gained the lead with the same number of drivers each week as Uber. Taxi drivers had an average of about 91 trips per week, while Uber drivers came in at 44 trips per week.
Compact Size, Great Price: See what the 2017 Mitsubishi Mirage has to offer
Granted, being a taxi driver is likely more difficult than being an Uber driver. The expense of renting a cab in New York City is astronomical. It’s so expensive that many yellow cab drivers have to work long hours—and therefore average 91 trips per week—in order to cover the rental cost of their vehicle.
The two businesses are still battling it out for the kingdom of New York City, so it should be interesting to see if the yellow cabs’ trip numbers still stay solid in the next year.
News Source: Recode