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New York City extends cap on new Uber and Lyft vehicles
08 August 2019IHS Markit Automotive Expert
(Excerpt)
The New York City Taxi and Limousine Commission (TLC) has voted
to extend its cap on the number of licences for ride-hailing
services such as Uber and Lyft for another year, reports The Verge.
Last year, New York City Council approved legislation to halt new
ride-hailing vehicle licences for a 12-month period, exempting
wheelchair-accessible vehicles. The TLC has also amended a rule
that limits the amount of time drivers can cruise without
passengers in Manhattan below 96th Street. The rule restricts the
amount of time ride-hailing drivers can spend without passengers to
31%, down from 41%.
Significance: The aim of the legislation is to
improve the city's traffic congestion and protect drivers' income.
Last year, the TLC established a minimum wage for ride-sharing
drivers. Since 2015, the number of ride-hailing vehicles in the
city has tripled, from about 12,600 in 2015 to about 80,000 in
2018, according to the TLC. New York City is the first major US
city to impose such a cap, and if it proves to address the issues,
then other cities might follow suit. This will be a blow for Uber
as it is the biggest ride-hailing company in the US. The New York
City Council had suggested a similar cap on ride-hailing services
in 2015, but it stepped back from such a move as it did not attract
enough support to pass the legislation.
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