New York City’s yellow cabs have been a symbol of the metropolis for decades.But the taxi driver only makes up 10% Part of the city’s overall driver’s landscape – giving way uber and Lyft.
While this is largely due to consumer choice and the convenience of ordering a shared car, it is also a result of the harsh working conditions taxi drivers face.According to statistics, they work an average of 6 days a week and 9.5 hours a day National Library of Medicine. Also, to operate a taxi, the driver must own or rent a license, which can cost a fortune.
Predatory lending, the allure of rare assets, and deliberate overpayments by industry leaders have artificially inflated the medallion’s price, reaching a high of over $1 million in the early 2010s.
Then, with the rise of Uber and Lyft, prices plummeted, causing great pain for drivers with their own licenses.this Coronavirus The pandemic has made things worse, and taxi drivers are virtually non-existent.
“Due to the coronavirus pandemic and government shutdowns in various cities, many drivers have shifted to different fields of work,” said New York City Taxi and Limousine Commissioner David Do.
Now, as taxi drivers recover from the license crisis and the COVID-19 pandemic, they are vying for space in the industry.
So, can taxis survive in a changing industry?
Watch the video to learn more.