New Taxi Design

While the typical taxi fleet vehicle is a retrofit of a mass-market passenger model, in 2006, the Standard Taxi was built from the ground up only to be a taxi. The new taxi design saved taxi owners and operators money by offering a vehicle that not only retailed at a price competitive with taxicab vehicles currently in operation, but also minimized service and repair costs. Many of the taxi's exterior panels were interchangeable, minimizing service and collision repair costs. Parts such as head lights, tail lights, tires, brakes, exhaust, oil filter, and air filter were readily available at regional retail parts suppliers. The easy-to-maintain interior also was a cost saving. Finally, the vehicle's unpainted primer finish allowed taxi companies to customize paint work locally and inexpensively so that they could comply with local taxi color scheme regulations.

Taxi Innovation to Compete with Ride-Sharing

The advent of ride-sharing platforms like Uber and Lyft has been a significant disruption to traditional taxi companies. However, to stay competitive, these taxi companies have been leveraging innovation and modern technology in several ways:

1. Digital Applications: Many taxi companies have developed their own mobile apps that provide similar functionality to Uber and Lyft, including ride tracking, digital payments, fare estimates, and driver ratings.
2. Flexible Pricing: To compete with the dynamic pricing model of ride-sharing apps, some taxi companies have started to offer discounted rates during non-peak hours or for frequent riders.
3. Improved Service and Professionalism: Taxi companies have increased their focus on improving the quality of their service. This could include driver training programs, stricter driver vetting processes, and maintaining cleaner, more comfortable vehicles.
4. Collaborations and Partnerships: Some taxi companies have partnered with other transport or tech companies to enhance their service offering. This could include integrating with flight tracking systems for airport pickups or partnering with local businesses for promotions.
5. Advanced Fleet Management: Taxi companies have adopted sophisticated software to manage their fleets more efficiently. This could include route optimization tools to reduce wait times or predictive analytics to forecast demand.
6. Sustainability: With the growing concern over climate change, some taxi companies have begun to invest in electric or hybrid vehicles to reduce their carbon footprint and appeal to environmentally conscious riders.
7. Specialized Services: Taxi companies are distinguishing themselves by offering specialized services, such as vehicles equipped for individuals with disabilities, or providing child car seats, something not typically offered by rideshare companies.

By innovating in these ways, traditional taxi companies are working to stay competitive in the new transportation landscape dominated by ride-sharing platforms.