When Uber Car Launched in New York City in 2011, subway ridership was soaring and the medallions required to drive a yellow cab were selling for a sky-high $1.2 million.
Now in 2017 Uber Car and other Ride Sharing Companies have an Army of over 60,000 Drivers in New York City, and the death of the Yellow Cab Business is vastly approaching.
In New York Uber Cars Largest United States Market, Yellow Cabs are dropping, Subway Ride ship has dropped for the first time since 2009, even though New York’s Population has grown.
Fees for Uber Car have dropped as well, Uber Car Pool where you can get a ride for $5.00 a much better alternative to the smelly Train stations that frequently run on delays for the price of 2.75.
Via Car, Uber Cars Competitor has Created a Flat Fare in Manhattan, for $5.00 you can enjoy your commute in comfort rather then using a MTA Alternative.
Getting Back to the NYC Gridlock, The Average Speed in Midtown Manhattan has now dropped to 8.1 Miles an hour, Down 12% from 2012.
Still, ride-booking services are succeeding at the expense of others. The Metropolitan Transportation Authority has taken a hit to its budget because it receives financing from a 50-cent surcharge on taxi trips. Officials say the shift from taxis to Uber and other apps has cost the authority about $28 million since 2014.
Uber car and its competitors are on the rise, Financing for Uber Cars have become much easier, where Ghost Credit, Bad Credit, Tax Liens aren’t a Block for Uber Car Loans anymore, and if the pace continues, the Yellow Cabs would become Ghost in the cities.