Re:Uber Confirms New $1.2B Funding Round, Looks to Asia for ...
by potatolicious on Thursday December 04, 2014 @01:21PM
(#8700741)
Because it turns out the medallion cost is only a small part of the operating cost of a cab.
"TLC’s medallions held by fleet owners, who collect rent of up to $132 a shift from drivers"[1]
NYC cabs run on 2 12-hour shifts a day. This works out to ~$13/hr to pay for the medallion itself. This isn't nothing, but ultimately the cost of the car, gas, insurance, etc, are still the dominant factors in operating a cab.
So yeah, theoretically without the medallion cost Ubers can be cheaper than a regular taxi, but probably not by all that much.
"TLC’s medallions held by fleet owners, who collect rent of up to $132 a shift from drivers"[1]
NYC cabs run on 2 12-hour shifts a day. This works out to ~$13/hr to pay for the medallion itself. This isn't nothing, but ultimately the cost of the car, gas, insurance, etc, are still the dominant factors in operating a cab.
So yeah, theoretically without the medallion cost Ubers can be cheaper than a regular taxi, but probably not by all that much.
[1] http://www.thenewyorkworld.com/2014/01/20/taxi-medallions/