Dear A.S.S. Editor
The number of private hire cars plying Singapore roads have apparently now soared by nearly 70 times since Uber and Grab entered the market in 2013. it is now reported that the number of private hires are 1 and a half times more than the number of taxis on the road.
This was according to numbers released by LTA. Before Uber and Grab entered the market four years ago, there were fewer than 500 such cars, mainly operated by limousine services. However, the number have now jumped to 41,297 units as at last month. The current total taxi population is 26,476.
With the high numbers of private hire cars, it is little wonder that many taxi drivers are complaining of a shrinking market for them. And, with numbers of taxis and private hire cars combined, these means that there are also more cars on the road now. The aim of reducing the number of cars on the roads might be dependent on car drivers giving up their cars to take these private hires or taxis. But how many actually have given up their car?
Experts have also warned that the high numbers is not sustainable in the long run. The market might get oversupplied, which will lead to intense competition, and damaging the taxi industry.