NYC Yellowcab Five-Month Moving Average Farebox (Meter Revenue) Per Day — Peak to Present
Reports from the New York City Taxi and Limousine Commission that were released for the July through October 2015 time period confirmed what many were presuming – the revenue a New York City taxi medallion generates continues to decline, which could be bad news for owners of medallions and their creditors.
The five-month moving average in taxi meter revenue in July 2015 was approximately $535. In October 2015, it was approximately $490.
Calculating the five-month average for trips evens out the high seasonable irregularity seen month-to-month in the city, but it also undermines the magnitude of decline at the end of the period when the trend is steadily declining.
If you were to analyze the data back to 2009, this four-month period would rank as the worst four-month period with the greatest percentage change in revenue. Needless to say, things are looking a bit grim for medallion owners.
The declines have come at a time when Uber has increased the number of drivers in New York.
The revenues have gone up and down for the last couple of years based on data collected. For 2013, revenues actually went up 2%.
Looking back, the average month in the year 2014 showed a 4.9% decrease. In early 2015, the average continued to decrease at a 5.6% decline. But things took a sharp decline from July through October 2015 with an average decline of 13.4%.
Data in other large cities have shown a similar decline in taxi ridership.
By Samantha
YellowCabNYCTaxi.com Staff Writer
Where does the date for the table come from??????????
Wow… do not use this cab company, you will be treated like crap…the man who answers the phone is the most unprofessional person I ever had the displeasure to deal with. You contact him to book some business with his company (about 50 rides for one evening btw) and not only does he not want the business, but he yells at prospective customers!! When asked for his email address, he gave me a fake address! @135gmail.com – So when I pointed out to him that the address was probably incorrect, he simply said that he was not giving his real email address because he doesn’t need the business…Meanwhile some competent people are unemployed…
Pingback: Rideshare apps on NYC Yellow Cabs – Econ 488