TLC ANNOUNCES DETERMINATION ON NEW FOR-HIRE VEHICLE LICENSES

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NEW YORK – The New York City Taxi and Limousine Commission (TLC) today
released its biannual decision on whether to license new For-Hire Vehicles.
Following a review of factors that included traffic congestion, vehicle supply,
passenger demand, driver earnings, and attrition rates, the TLC has determined
that it will not issue any new For-Hire Vehicle licenses in the next six
months, except for those that are wheelchair accessible.


“As New York City continues to emerge from the COVID-19 pandemic, it is vital
that the sectors the TLC regulates have an opportunity to recover and thrive. The
existing FHV fleet of 96,000 vehicles exceeds current passenger demand. It is
critical that TLC-Licensed Drivers can continue to earn a livable wage and that
TLC-Licensed businesses have the ability to move from operating at a loss to
breaking even to turning a profit. New vehicle licenses would only serve to
jeopardize the progress the Industry is beginning to make after nearly two
devasting years as a result of the global health pandemic.”

Some findings from the analysis:

-The number of average daily For-Hire Vehicle trips is still significantly lower than
during the pre-pandemic period, but there have been increases in the last six
month, including in the outer-boroughs.

-Over the last six months, traffic congestion levels in Manhattan are approaching
pre-pandemic levels, and traffic speeds in Midtown have been decreasing.

-The issuance of new For-Hire Vehicle licenses could undermine the increase in
earnings that active TLC-Licensed Drivers have seen in recent months.

-Over 30,000 existing For-Hire Vehicles did not provide passenger service in July
2021, even though they are licensed to do so, representing a large pool of
vehicles that could return to the road and provide service.

-TLC license holders can continue to change their vehicles from gas to electric.
The TLC is fully-committed to electrifying the fleet of currently-licensed
vehicles in New York City.

-Vehicle owners can still obtain a new For-Hire Vehicle License if they provide
wheelchair accessible service to the riding public.

Background:
Following legislation signed by Mayor de Blasio in 2018, TLC conducts a biannual
review of For-Hire Vehicle licenses and determines whether new licenses should
be issued. This analysis includes traffic congestion levels, driver earnings, license
attrition rates, outer-borough service, and electrification of the fleet. An
exemption for wheelchair accessible For-Hire Vehicles continues to increase the
levels of accessible service to passengers

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