What is the “NYC Taxi Cab Competition?”
“In 2007, New York City officials convened a group of stakeholders, including representatives of taxi drivers, owner and passengers, to create a set of goals for the next New York City taxi cab, a project called the Taxi of Tomorrow. In December 2009, the TLC issued a “request for proposals,” inviting auto manufacturers and designers to submit their best ideas for a purpose-built vehicle to serve as a New York City taxicab. Whichever of these designs that the City selects, if any, will be the next New York City taxicab (subject to constant improvements and enhancements) for the next ten years.”
What is the value today of a NYC taxi medallion?
According to a report filed in US Today:
“Taxi medallions — required licenses fastened to the hoods of all New York City yellow cabs — have rocketed in value at a time when many investments have plummeted. The average rate in July for a corporate-licensed taxi medallion in the Big Apple was a record $766,000 — up 126% from $339,000 in 2004.
“It is an industry that has always gone up,” says Andrew Murstein, president of Medallion Financial. “It has outperformed every index you can think of — the Dow, Nasdaq, gold, you name it.”
Approaching the finish line…
Introducing the 3 finalists
What’s your preference? Did you realize how valuable a NYC taxi cab medallion is? Please share your opinions. They matter!
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