According to recent city data, taxicabs around Austin have reported a massive loss when it comes to their ride count. Three of Austin’s top taxicabs – Austin Cab, Austin Yellow Cab and Lone Star Cab – recorded a 30% decline in their 2015 ride count in comparison to the same period in 2014. While these companies stressed that they are not that threatened just yet by the presence of Uber and Lyft, these transportation networking companies are threatening their businesses. Some taxi companies in the US have already filed for bankruptcy due to the growth of these services. Uber and Lyft have yet to comment on Austin Yellow Cab President Ed Kargbo’s statements regarding the growth of their services in Austin. Both companies are currently subjected to the legalization efforts of the Austin City Council.
Read more about this here: The Uber effect: Austin taxi rides drop dramatically in past year