For immediate release: 9th July, 2019
LATEST SURVEY FROM CABS.COM REVEALS 79% OF INDEPENDENT CAB COMPANIES BELIEVE THEY SHOULD JOIN TOGETHER TO COMPETE WITH UBER
– Digital hailing the future of the taxi industry, 73%, and Uber a major threat, 52% –
(London, 9/7/19) Cabs.com (www.cabs.com), the cab firm aggregator, today announced the results of its latest survey into the PHV (Private Hire Vehicle) market. Cabs.com lists over 8000 cab firms on its website, more than 50% of the UK market. This is the second survey the company has conducted and it was sent out to 3000 independent cab firms, 20% of the total in the UK.
The picture emerged of a robust and optimistic sector of the taxi market but one aware of the challenges facing it. Below is a summary of some of the major findings:
· 52% of companies believe Uber poses a severe or moderate threat
· 73% believe digital hailing is the future of the taxi industry
· Most interestingly, 79% believe independent cab firms should join together to effectively compete with Uber
William Berry, CEO of Cabs .com, said:
“Independent cab companies are well aware of the changing dynamics of the cab market and the threats that they pose. Cabs.com is in a unique position to help. Its sophisticated and comprehensive technological platform comprising a dispatch admin suite and driver and passenger apps, enables them to compete with Uber, at only £30 per month and 10p commission a ride, ten times cheaper than Uber. In our survey 46% of cab companies said they would be interested in such a service at such a price.”
The survey also built a picture of the infrastructure of an average cab firm.:
– 10 to 15 drivers
– Average fare of c£12
– Monthly passenger bookings of 1000-2000
– Monthly staff costs of £8000
– Office rent of £500 – £1000 per month
“82% of companies surveyed said they would be interested in our service if we could lower costs and increase bookings. You can see from the figures above that the market bears significant office and staff costs.
An automatic dispatch system would significantly reduce these costs, whilst our passenger and driver apps ensure a quality of service that would see increased bookings.
This is a huge opportunity to bring together all the independent cab companies, and their drivers into one advanced digital hailing service, with great benefits to passengers across the UK in terms of convenience, availability, service and cost.”
The aggregation of independent cab firms has additional consumer benefits:
– Current digital hailing companies are very urban-centric. Cabs.com has coverage throughout the UK, including the most rural of areas, thus providing a valuable digital hailing service where none or little currently exist, especially vital for the disabled and elderly
– Local cab firms benefit local communities and pay local taxes
– Because the passenger’s contract is with the registered cab company, not the driver (as is the case with Uber) there is a clear pathway for recourse, should it be necessary: incorrect fare-charging, lateness, unacceptable behaviour
– Perhaps, most importantly, is the safety and security aspect. Local authorities require a security check for all cab drivers. Furthermore, a high proportion of cab drivers have undergone disability awareness training and child sexual abuse/awareness training
– ENDS –
Cab.com is an aggregator of cab firms to whom it offers services. These include website listings, a dispatch software package, driver and consumer apps, all designed to help the cab firm move cost-effectively into the new wave of digital hailing. (Full details available on request)
The UK market comprises some 15,000 cab firms, operating some 250,000 cabs, worth £7 billion. Worldwide there are around 2.4 million cabs.
It was founded by William Berry, who is also CEO. Berry is an established entrepreneur with three successful exits. His previous companies have included accommodationforstudents.com, the UK’S no 1 student accommodation website, Thomas Charles, a highly successful IVA company, and Conferences UK, a successful online conferences/venues search service.
William will be speaking at MOVE 2020, the world’s most important mobility event, where disruptive technology and innovation drive much needed change. This takes place at Excel, London, on February 11/12, 2020. His topic will be ‘Cab companies: Banding together to fight back’.
Please contact us below if you would like to learn more about Cabs.com or arrange an interview with William Berry.
Photos available on request.
For further information please contact:
Stewart Ross (PR121)
Tel: 07966 540787
William Berry (Cabs.com)