Connect with us

PropTech

Value of Taxi medallions crumbling

Uber Founder Travis Kalanick (Credit: Justin Sullivan/Getty Images)

Data released by the NYC Taxi and Limousine Commission quantifies the impact Uber and Lyft have had on NYC’s yellow taxis. 

  • By the numbers: Since 2010 daily dispatched trips from NYC taxi’s have declined from 500k to around 250k, while Uber now dispatches over 525k daily trips in the City, according to Digg. As a result, the value of taxi medallions and the industry as a whole continues to crumble. 
  • Flashback: The Yellow taxi cab was first introduced to New York City in July 1897 by the Samuel’s Electric Carriage and Wagon Company. Adapt or die!
Continue Reading
To Top