WHOPPERS: Research & Markets has issued a report on the taxi and limousine industry in the U.S. which states there are 5,000 taxi and limousine companies doing $4 billion in business annually -- half in the limo segment, and half in the taxi segment.
SAY WHAT? That means only 2,500 limo companies. I don't think anyone in this industry would agree with that estimate. LCT research shows a conservative estimate of 8,000 chauffeured transportation operators nationwide. Other industry estimates wander higher. LCT counts actual operators; higher estimates count companies, which would include all the multiple DBA companies that are actually under one operator.
LCT GETS IT: As to the revenues, that figure is way off. LCT projects in its most recent Fact Book that gross chauffeured transportation operator revenue in 2008 was $2.17 billion. That would mean $1.83 billion for the cab industry, according to Research & Markets. But New York's cab industry alone is estimated to be $1.8 billion.
You get the picture. Don't waste $129 on this report. -- M.R.
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