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AGENCY TESTIMONY
TLC industry overview and trip statistics
4:03:31
ยท
123 sec
Commissioner Do provides an overview of the TLC's regulated industries, highlighting their stable position and optimistic outlook. He presents trip statistics and performance across different sectors of the for-hire transportation industry.
- Over 300 million trips were completed across all industries in calendar year 2024, a 4.4% increase from the previous year.
- Taxi trips increased by 7.5% from 2023 to 2024.
- High-volume for-hire vehicles completed over 239 million trips in 2024, a 3% increase from 2023.
- Non-high-volume for-hire vehicles showed an 18% increase in trips, completing 19.7 million in 2024.
- The commuter van industry is showing signs of recovery, with 43 vans in service compared to 34 at the beginning of 2024.
David Do
4:03:31
As I reported at the oversight hearing held by this committee last month, the TLC's regulated industries are in a stable position and we are optimistic about the future of the for hire transportation.
4:03:43
In calendar year twenty four, across all industries, there were over 300,000,000 trips completed.
4:03:49
In comparison to the previous year, overall trips have increased by 4.4%.
4:03:55
Each sector of our regulated industries is unique and there is some variation across each type.
4:04:01
Taxi trips have increased by 7.5% from calendar year twenty twenty three to calendar year twenty twenty four.
4:04:09
Importantly, yellow taxi drivers wages have reached new heights in part due to the meter rate of fare increase TLC passed in 2022.
4:04:18
The agency estimates that between 70 to 75% of yellow taxi drivers are full time drivers.
4:04:25
And the medium earnings for this group are now $60,000 per year compared to 55,000 in 2019.
4:04:33
The high volume for hire vehicle sector, the largest segment of our regulated industry completed over two thirty nine million trips in calendar year 2024 compared to about two thirty two million in calendar year 2023 representing a 3% increase.
4:04:51
We also saw similar driver earning increase in the sector as well.
4:04:55
The median earnings for full time drivers before taxes and expenses are now 63,000 in comparison to 50,000 in 2019, which is a result of the TLC's robust driver payrolls authorized by local law '50 '20 '18.
4:05:11
Moreover, non high volume for hire vehicles continue to show signs of progress as well, completing 19,700,000 trips in calendar year '24.
4:05:21
This is an 18% increase to calendar year '23.
4:05:26
The commuter van industry is beginning to show signs of recovery with 43 vans in service compared to 34 at the beginning of 2024.