Taxi Driver Online

Eco City blames Uber for black cab sales collapse



The AIM-listed firm, whose shares were trading at close to 10p in 2008, slumped by more than a third to 0.42p

The first official evidence of smartphone cab-booking app Uber’s ability to slay London’s iconic taxis trade came today, with a collapse in trading from Mercedes Vito black cab-maker Eco City Vehicles.

Revenues for the six months to July were down by a third to £11.4 million “mainly due to uncertainty caused in the London licensed taxi trade by the emergence of Uber”, Eco City said.

It also blamed Boris Johnson’s proposed introduction of zero emissions standards from 2018 for new Vito taxi sales slumping to 139 vehicles from 299 at the same time last year.

Up to 12,000 black cab drivers took part in a demonstration in June over TfL’s role in the rise of Uber.

The Vito’s share of the new London licensed taxis market has slumped to 24%, down from 44% this time last year. One industry source said Eco City’s blaming of Uber was “rubbish”: “the vehicles are too expensive and merely a van trying to be a taxi.”

The AIM-listed firm, whose shares were trading at close to 10p in 2008, slumped by more than a third to 0.42p.

Eco City said it was “reviewing its strategic options”, although this “does not include the consideration or solicitation of bids”.

But it refused to elaborate on what a strategic review might actually involve: “We can’t say. I wouldn’t like to speculate,” said a spokesman.

http://www.standard.co.uk/business/busi ... 42341.html

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

the men who sold the London cab trade down the river?

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

There's been thousands on new cabs bought over the last few years with Johnstones 15 yr limit.

Unfortunately Kpm has continually failed to come up with a solution to the rws unit, and I'm hearing from a very reliable sucre that the new Vito will have a 100% German engineered solution from next year. Plus it's £42k. Plus you have to deal with Kpm

The Nissan is also due out in January with a much cheaper price tag than Merc or LTI.

The metrocab is also due for release soon.

Boris's nutty 'plans' for electric cabs from 2018 is also still hovering about in the background (he'll be gone by then)

Lots of reasons why the Vito sales could be slumping.

In fact the only reason they wouldn't be, is a minicab app with non English speaking immigrants and a sat nav.

That will be you then

What a load of bollocks.

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IDFIMH