9 Comments

I’m not so smart , reason me why adding more app cars will affect medallion prices?

I think it’s more like ehail apps should be concerned , if those numbers grow , and the price you charge customers increases , that’s good for yellow, bad for you ?

Expand full comment
author

First think about why anybody pays $X for a taxi medallion? It is primarily driven by a few main factors such as a driver earnings potential (how much does a medallion allow one to earn) and perceived scarcity value (FHV supply cap). 80%+ of all for-hire trips in NYC now are app-dispatched (e-hailed) and yellow cabs are also servicing those trips now. One can view it as, if anybody (person or company) can simply buy a $40k EV (EVs also getting cheaper), TLC plate the vehicle for less than $2k (little scarcity value) and service the same trips (earnings potential is essentially the same), why pay anything for a taxi medallion? Street hail access? That might be worth $30k to someone, maybe less, if you will? When the only way to get a TLC plate is a WAV, that's not as like-for-like and also is more expensive / not preferred by many drivers.

Expand full comment

The fact that one can buy a vehicle instead of a medallion has been a factor for many years already , sorry to say your out of touch to me ( maybe I’m out of touch to you) but all those who I know dont give a shit about apps but look upon the medallion as the real industry and when looking to buy a medallion look at earnings , period , my opinion , your being sorry for us but only bc your worried about yourself

Expand full comment
author

There was a TLC Plate Cap put in place in August 2018, then the EV exemption was removed in June 2021? Have you been around? It seems like you just don't know the details. We do not own a single taxi medallion (never have), but we know what's fair and unfair.

Expand full comment

I beat your arguments every time bye

Expand full comment
Oct 26, 2023Liked by AutoMarketplace

Money talks yes no doubt who cares about congestion in the city we need it more than a millions of ride hailing’s cars in the city and let’s go smoke the blunt out side and inside city hall

Expand full comment
Oct 26, 2023Liked by AutoMarketplace

Why they issued the taxi madallions dear officals 4500 plus sitting in the storage come out of ur dream nyc tlc mr do

Expand full comment
Oct 26, 2023Liked by AutoMarketplace

The city is on the hook for perhaps over $400M in liabilities with respect to backing the rescued medallions at $170k. Protest this by having everyone default on their loan all at once.

Expand full comment
author

You might not be far off (might be technically illegal to do this tactic, but not sure). Something is likely brewing. Let's see what ultimately happens!

Expand full comment