Record bids were made for the new hybrid taxi medallions ~ Hybrid Car Review
Hybrid Car Review: Record bids were made for the new hybrid taxi medallions

Monday, June 26, 2006

Record bids were made for the new hybrid taxi medallions

It seems bidding has been high on the 254 medallions available in New York for hybrid taxis. The Taxi and Limousine Commission (TLC) which regulates the number of taxis in NY, is reporting record bids on the new medallions, including one for $554,147. And this despite the medallions being offered at discount rates.

There are 27 hybrid cabs operating in NY today. With only 22 hybrid Escape, two Lexus RX 400h's, two Toyota Highlanders and one Toyota Prius, the technology has yet to be proven in New York. Although 30 hybrid taxis in San Francisco have been doing very well, reaching the 100,000 mile mark with ease.

Even with the increase, the number of hybrid taxis will be a small fraction of the 13,000 taxis currently running in NYC.

Taxi fleet owners like to talk about the green aspects associated with hybrid technology. And they will be happier with the reduced maintenance bills associated with the brakes and oil changes.

But its the cab drivers who will really be excited. Drivers essentially 'rent' their cab for the day, paying for all fuel costs during their shift. With the increased fuel efficiency, drivers are estimating $30 in fuel savings each day, which goes directly into their pockets.

Source: Financial Express

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