The Traderszone Network

Published in TZ Latest News 18 April, 2016 by The TZ Newswire Staff

Ride-sharing Kills LA’s Taxi Industry

It is not a good time to be working in traditional taxis in L.A., as the last three years have seen taxi usage plummet 30 percent in three years.

According to recent reports, Uber and Lyft are behind the precipitous drop-off, which has seen taxi ridership plummet from 8.4 million in 2012 to a little over 6 million in 2015. The biggest losers are what used to be the hottest areas — the touristy spots in Hollywood and downtown.

read more