Money CHART: The decline in Sydney taxi plate prices since the arrival of Uber

19:51  11 january  2017
19:51  11 january  2017 Source:   Business Insider Australia

Police accused of preventing mum from taking sick baby to hospital after 20 minute row over taxi

  Police accused of preventing mum from taking sick baby to hospital after 20 minute row over taxi GMP now say they are investigating the mum’s complaint. Advice from the government’s gov.uk site states: “A child can travel without a child car seat in some circumstances. Taxis and minicabs: If the driver doesn’t provide the correct car seat, children can travel without one - but only if they travel on a rear seat and wear an adult seat belt if they’re 3 or older.”Little Alex spent seven hours being treated for a viral infection and conjunctivitis at Royal Manchester Children’s Hospital. He has since recovered at home.

Ride share services such as Uber have had a pronounced impact since their arrival in Australia in late 2012, and not just on the hip pocket of consumers. As this excellent chart posted on Twitter by Jamie Hall shows, it’s also had a large impact on the cost of taxis plates in Sydney .

CHART : The decline in Sydney taxi plate prices since the arrival of Uber . The 10 most important things in the world right now. CHART : The relationship between a lift in US bond yields and the S&P 500. AUSTRALIAN STOCKS GO NOWHERE: What you need to know. Here's exactly how Bellamy's got into its deep hole, and how it hopes to climb out.


  CHART: The decline in Sydney taxi plate prices since the arrival of Uber © Provided by Business Insider Inc Ride share services such as Uber have had a pronounced impact since their arrival in Australia in late 2012, and not just on the hip pocket of consumers. 

As this excellent chart posted on Twitter by Jamie Hall shows, it's also had a large impact on the cost of taxis plates in Sydney.

After topping out at $430,428 in September 2012, the average transfer price has now fallen to $217,500 as at the end of last year.

While the NSW Roads and Maritime Authority -- the source of the data -- stresses that the average price of transfers are prone to significant variance given each sale is based on a number of variables and may not be indicative of overall market trends, it's clear that increased competition has had an impact on taxi plate prices.

In late 2015, the NSW government announced a $250 million taxpayer-funded industry adjustment package to compensate taxi and hire car licence plate owners following the legalisation of Uber X in the state.

Uber to pay $20 million to settle U.S. claims it misled drivers .
<p>Ride-hailing company Uber Technologies Inc has agreed to pay $20 million to settle claims by the U.S. government that it exaggerated prospective earnings in seeking to recruit drivers, documents filed with a federal court on Thursday showed.</p>The company had posted on its website that some Uber drivers made more than $90,000 in New York and $74,000 in San Francisco when the real earnings were considerably less, the Federal Trade Commission said in a court filing.

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