TLPA Survey Offers Snapshot of Industry

Posted on January 6, 2004 by LCT Staff - Also by this author - About the author

The average trip using a sedan pulled in $95 in gross revenue, compared to $212 for a small stretch limousine and $285 for a stretch of between 85 inches and 120 inches. A super stretch of more than 120 inches, meanwhile, pulled in an average of $332 per trip, according to a survey of limousine companies conducted by the Taxicab, Limousine and Paratransit Association of Kensington, Md.

The survey was based on responses from 47 fleets, representing a total of 1,557 vehicles. Nearly half of the respondents – 48% – reported annual gross revenues of less than $500,000.

Some of the TLPA findings were similar to LCT’s 2003 Operator Survey (September 2003 issue) but there were some differences. In addition, the TLPA survey included some questions that were not asked in the LCT survey.

Highlights of the TLPA survey included:

* The average per vehicle insurance premium was $3,495 a year, according to survey respondents.

* More than eight out of 10 operators, or 81.8% of those responding, have experienced an increase in their insurance rates. Premiums increased by an average of 21.8%, the survey found.

* The average number of trips per vehicle per year was 2,087, the survey found.

* Nearly half of the respondents – 45.4% - reported year-to- year revenue growth, with 18.2% reporting no revenue growth and slightly more than a third – 36.4% - reported a decrease in revenue.

* The average hourly rate for ranged from a low of $45 for sedans to $97 for super-stretches.

* Sedans were the hardest-working vehicles in operators’ fleets, being driven an average of 54,347 miles a year. This compared to an average of 36,664 miles a year for small stretches, 31,279 for medium-sized stretches and 19,362 super-stretches of 120 inches or more.

* Fifty-seven percent of the respondents reported that they work with a limousine network. * Thirty-nine percent of the respondents reported that their chauffeurs were independent contractors, compared to 61% of the respondents classifying them as company employees.

* Two out of three operators responding to the survey said they had company Web site. In addition, 40.4% of the respondents stated that they used an Internet-based reservations system.

Contact the TLPA at www.tlpa.org or (301) 946-5701. - Eric Lassiter

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