Chicago Taxi Companies Face Depletion of Businesses

Chicago

Chicago’s taxi cab companies face a major decrease in business amid the pandemic. Additionally, competiton from Lyft, Uber, and Via leaving little to no room for the original ‘taxi’.

All taxi drivers must possess a city-issued medallion, it’s value varies due to high demand. As of July 2019, there were about 3,400 active medallions. As of July 21, 2020,  2,151 medallions had been surrendered leaving an estimate of 650 taxies on the streets of Chicago.

The current price for an issued medallion is now $25,000, which is a serious downfall from the 2015 cost of $290,000.

“The way things are going right now, there is no hope,” said Sabhir Waheed the President of Blue Ribbon Taxi.

Waheed’s company is experiencing a hard hit from the pandemic. Of the 230 Blues Ribbon taxis only five are on the road.

One factor is the stagnent reopening phase across the nation, which is has reulted in a recession. Major businesses, like the airport, are seeing a decline, leaving taxis drivers in struggling to find fares.

The president of Globe Taxi, Shoib Hasan explains, “The airport is not moving at all.” Drivers often camp outside of airports, sleeping in their cars, waiting for a rider.

To protect customers from coming in contact with the coronavirus, there is a demand for taxi drivers to boost their sanitation and apply PPE (proper protective equipment) to their vehicles. To offset the expense the city has offered drivers a $200 PPE  reimbursement.

Written by Doneisha Jackson
Edited by Cathy Milne-Ware

Source:

WGN News: Last ride for Chicago’s taxis? Ride-sharing, pandemic taking its toll

Top and Featured Image Courtesy of John’s Flickr Page – Creative Commons License

Shortlink https://thenewsschool.com/2020/08/chicago-taxi-companies-face-depletion-of-businesses/

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