Industry Analysis & Industry Trends
Stagnant revenue and heavy regulation have characterised the Taxi and Limousine Transport industry over the past five years. While industry services are well accepted across most demographics, they are discretionary and easily substituted. Low business and consumer confidence after the global financial crisis has suppressed demand for taxi services, as consumers flocked to cheaper public transport providers. Industry revenue is forecast to rise marginally, by an annualised 0.4% over the five years through 2014-15. Over the current year, revenue is forecast to improve by 1.6%, to total $5.5 billion.
The industry complements public transport and private vehicle transport by providing flexible door-to-door transport for consumers... purchase to read more
Industry Report - Industry Analysis Chapter
The Taxi and Limousine Transport industry provides premium road transport services, transporting customers door to door. The operation of taxis accounts for the majority of industry revenue, with private hire cars, wedding cars and other niche vehicle services making up the remainder of industry activity. The taxi segment of the industry is highly regulated, limiting how the industry can respond to variations in demand. Industry revenue is forecast to grow at a compound annual 0.4% over the five years through 2014-15, with a dip in 2010-11. In 2014-15, stronger revenue growth is expected with an increase of 1.6% forecast to take revenue to $5.5 billion. Reform in the taxi segment, particularly in Victoria, has begun to shake up the industry... purchase to read more