New York City Street Cabs
by Doc Braham
Title
New York City Street Cabs
Artist
Doc Braham
Medium
Photograph - Photography, Pop Art, Contemporary, Black & White, Portfolio, Original Art, High Class Fashion, Painting, Conceptual, Mixed Media, Abstract, Contemporary, Success, Unique, Odd, Quirky
Description
Yellow cabs, must have a medallion to operate, are driven an average of 180 miles per shift. As of March 14, 2014, there were 51,398 individuals licensed to drive medallion taxicabs. There were 13,605 taxicab medallion licenses in existence. By July 2016, that number had dropped slightly to 13,587 medallions, or 18 lower than the 2014 total. Taxi patronage has declined since 2011 due to competition from rideshare services.
The medallion system was created in 1937 as a government imposed limitation on the supply of taxicabs, requiring that a medallion be purchased for the right to operate a taxi. Thereafter, New York did not sell any medallions until 1996, when it auctioned slightly more than 2,000. The lack of new medallions resulted in such a shortage that by 2014 they were selling for more than $1 million each, with about 14,000 medallions in existence. Since then, the increase in rideshare vehicles, which numbered about 63,000 in 2015 and 100,000 by August 2018, has drastically reduced the market price of medallions
Uploaded
May 8th, 2020
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Viewed 577 Times - Last Visitor from New York, NY on 04/22/2024 at 4:53 PM
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