
Taxi & Limousine Services
Description
Brief Excerpt from Industry Overview Chapter:
Companies in this industry provide passenger transportation by automobiles not operated over regular routes or on regular schedules. No major companies dominate.
COMPETITIVE LANDSCAPE
Taxi and limousine revenue is driven by business and leisure travel. The profitability of individual companies depends on good marketing. Small companies can effectively compete with large ones because there are few economies of scale in operations. The US industry is concentrated: the top 50 companies account for about 70% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Taxis and limousines transport passengers after being dispatched per customer request or reservation. Taxi cabs also pick up passengers who hail them while driving on city streets or at taxi stands. Limousines can pick up customers only by telephone request. Limousine companies may lease vehicles with a driver by the hour or operate for-hire vehicles (FHV) that charge flat rates for specific trips in competition with taxis. Local passenger transportation accounts for about 90% of the industry's revenue, while road transportation support is about 2%. Other services include long-distance transportation, local, fixed-route passenger transportation, and vanpool and carpool services.
Companies in this industry provide passenger transportation by automobiles not operated over regular routes or on regular schedules. No major companies dominate.
COMPETITIVE LANDSCAPE
Taxi and limousine revenue is driven by business and leisure travel. The profitability of individual companies depends on good marketing. Small companies can effectively compete with large ones because there are few economies of scale in operations. The US industry is concentrated: the top 50 companies account for about 70% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Taxis and limousines transport passengers after being dispatched per customer request or reservation. Taxi cabs also pick up passengers who hail them while driving on city streets or at taxi stands. Limousines can pick up customers only by telephone request. Limousine companies may lease vehicles with a driver by the hour or operate for-hire vehicles (FHV) that charge flat rates for specific trips in competition with taxis. Local passenger transportation accounts for about 90% of the industry's revenue, while road transportation support is about 2%. Other services include long-distance transportation, local, fixed-route passenger transportation, and vanpool and carpool services.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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