In September, the New York City Taxi & Limousine Commission (TLC) decided to extend its pause on the issuance of new For-Hire Vehicle (FHV) licenses by an additional six months, after the release of its biannual report. In February 2021, the TLC will conduct another full review and determine whether or not to further extend the cap.
Click here to view the full report, which considers traffic congestion, driver pay, license attrition rates, and the availability of outer-borough service.
“As the City progresses through its phased reopening, there has been a gradual increase in ridership,” said TLC Commissioner Aloysee Heredia Jarmoszuk. “Presently, there are enough vehicles across all segments of the for-hire transportation industry to service demand. Therefore, it is necessary to extend the for-hire vehicle licensing pause.”
When the coronavirus pandemic hit New York City, trips plummeted 84% from their pre-COVID levels by early April. While there’s been a slow trickle of returning passengers over the past several months and new relief efforts by the city’s TLC, drivers say it’s still not nearly enough to sustain business as usual. Manhattan is still largely devoid of office workers and tourists.
Sources: Market Watch, Black Car Assistance Corp.
