While Uber and Lyft are making a name for themselves, the taxi market is still ginormous in certain urban areas. In this video, I go over the inevitable transition of Tesla taxis and why this transition will impact Tesla in a meaningful way.
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Sources used in this video
https://www.mordorintelligence.com/industry-reports/taxi-market
https://loupventures.com/tesla-model-3-cost-of-ownership-slightly-cheaper-than-a-camry/
https://electrek.co/2019/12/23/tesla-large-orde-taxi-company-germany/
https://www.statista.com/outlook/368/100/ride-hailing-taxi/worldwide #market-globalRevenue
https://www.cbsnews.com/pictures/the-20-deadliest-jobs-in-america-ranked/11/
All music used in this video was from Lakey Inspired's Patreon exclusive music.
Lakey Inspired's Soundcloud: https://soundcloud.com/lakeyinspired
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Sign up for two free stocks on Webull at https://act.webull.com/kol-us/share.html?hl=en&inviteCode=QQYcU6N2Lzz5
Please consider becoming a channel member by clicking the "join" button or becoming a Patreon at
https://patreon.com/casgains
If you enjoyed this video, please hit the like button and subscribe! It really helps out with the channel.
Sources used in this video
https://www.mordorintelligence.com/industry-reports/taxi-market
https://loupventures.com/tesla-model-3-cost-of-ownership-slightly-cheaper-than-a-camry/
https://electrek.co/2019/12/23/tesla-large-orde-taxi-company-germany/
https://www.statista.com/outlook/368/100/ride-hailing-taxi/worldwide #market-globalRevenue
https://www.cbsnews.com/pictures/the-20-deadliest-jobs-in-america-ranked/11/
All music used in this video was from Lakey Inspired's Patreon exclusive music.
Lakey Inspired's Soundcloud: https://soundcloud.com/lakeyinspired
In hindsight, it may seem like the taxi industry, has at little to no innovation over the past decade. However, behind the scenes a larger transition is beginning to unfold. Electric taxis. Tesla has recognized this transition and will soon dominate the taxi market with its low cost of ownership.
In this video, I'm gon na go over the inevitable transition of Tesla taxis if you're new to the channel. Please consider subscribing for more content like this and let's get right into it, while Tesla's vehicles are certainly expensive. The low cost of ownership makes the vehicle cheaper over the long run in July of 2019 g monster from luke ventures calculated the five year cost of ownership of a Tesla Model 3 compared to a Toyota Camry LE and an Audi a5 after calculating the total cost Of ownership, along with the decline in resale value jean found out that the Tesla Model 3 actually cost around $ 2,000 less to own than a Toyota Camry LE now, when it comes to taxi vehicles, switching the Tesla's is a no brainer taxis have a much higher Daily mileage of the consignee idol and must keep the heating and air conditioning on at all times in order to satisfy the passengers by recalculating the five year cost of ownership for taxi use. This would easily result in a far lower cost of ownership for the Model.
3, the importance of this cannot be overstated. Tesla's vehicles have better performance, comfort and technology than a Toyota Camry, yet the vehicle still costs less money to own than a Camry. One taxi company in Germany ordered a fleet of 200 model threes and reported that electric cars are much easier to care for an old car cost six thousand euros a year. The expenses are now gone.
We also save on fuel costs, cheaper electricity. Now the owning step required is to educate fleet managers about the massive cost benefits of Tesla taxis. Tesla has been hosting webinars over the past few years, aiming to accelerate the transition to Tesla taxis. Just last week, Tesla hosted his fourth enterprise webinar, which comprises of a brief history of Tesla, including who we are and where we have come from, but, more importantly, the benefits to employers and employees, as well as technology charging and safety topics.
Now it may seem like the transition to Tesla taxis doesn't matter, but the truth is that the transition provides a massive opportunity for Tesla, while uber and lyft are making a name for themselves in the taxi space clack, she still represent the majority of the market and Continents like Asia and Australia, this market is ginormous and has the potential to make a massive impact on Tesla sales in the future. There are so many taxi drivers in the world, and the estimates for the number of taxi drivers ranges from 15 to 30 million drivers. To put this number into perspective, Toyota sold 2.3 million vehicles in 2019, so it would take seven years for Toyota to provide the minimum amount of taxi vehicles being driven around the world. Tesla's multitude of advantages makes it the best positioned automaker, to take over the taxi market as it transitions to electric, given the facts that taxi drivers have to drive around all day. It's no surprise that taxi driving is dangerous. According to the bureau, labor of statistics, taxi driving is the eleventh most deadliest job in America. The model 3 is the safest vehicle in the world, making it the ideal fit for taxi drivers. Now, I'm sure most of you would rather sit in a Tesla Model 3 than a Toyota Camry.
The appeal of a Tesla to the consumer will allow taxi companies to get more market share than non Tesla taxis. In fact, Norman. A taxi driver who drives a Tesla Model 3 stated that the car has only been driving this morning when the driver has already received a tip of 15 euros, because the customer simply thought it was great to drive in an electric car. This is important for both the taxi company and Tesla.
The taxis now generate more profit and get more tips, while Tesla sells more vehicles and is able to market their product to potential customers. We never sat in a Tesla before, ultimately, the turning point for when Tesla taxis become an obvious choice, is when the Million Mile battery is released. This would increase the longevity of Tesla taxis while being an entry way for making profits with vehicle-to-grid technology. The gap between Tesla, taxis and gas vehicles would be so stupendous Lee large that it would be illogical to go with other vehicles.
Let me know what you think about Tesla's taxis in the comment section below. If you enjoyed this video, please hit the like button and subscribe enough. See you in the next one.
Jamaica's taxi operates needs them . Tesla need's to make bus's as well ! The Jamaica Urban Transport Company needs them ( JUTC ) .
Tesla's academy confirmation. Complete
Don't have vids on any other research….
I heard it takes forever to get stuff fixed for tesla due to lack of ppl
Although I love Tesla and EVs, in HKSAR,China, it seems like the new generation of Toyota JPN LPG taxis only cost around $7 USD Electricity to run 400km and Super Charging costs about $10 USD. The maintenance seems to be very simple and streamlined too and since taxis in HKSAR, China run 24 hours a day with 2 drivers driving alternative shifts, this might not make any economic sense until full Autopilot is out 🙂
Always wanted moel 3 taxis in HKSAR, China though.
You might have noticed how I was hating on a couple of your videos and here comes today's rant.😈 About the cost of ownership, tesla is very expensive to buy but as you have said, electricity is cheaper than petrol or diesel, and that is true, but one thing that you forgot to put into the calculation is WHEN AFTER 5 YEARS REPLACING A $14000 BATTERY PACK!!! Also I haven't heard of a single person that actually paid $38000 for a model 3, the cheapest I have ever seen was $40000. On the safety aspect I have to agree with you that it is a little bit safer, but if you want to drive around like a taxi all day, you will have to make at least one supercharger stop every day, and then your battery will degrade even faster, so how have the tables turned now that we have included the cost of batteries? I bet you are one of those annoying people that drive an extra short range white model 3 (because white is right now the only free color) for $38000.
Good video – EXCEPT for 1 very false piece of data. Tesla Model 3’s are NOT expensive. The average price of a new car in the US is $36,700 – so unless you get a ton of options the Model 3 is barely over this. I just got mine – $40k – gray paint and 19” wheels. A taxi service doesn’t need long range – don’t drive more than 250 mi/day. The only thing that would worry me is battery life – we don’t know if the Tesla 8-10 yr claim is accurate.
I have never seen such a huge speculation of a company such as Tesla. Tesla is going to be Uber, lyft, Google/Waymo and in next 6 months or by end of this year. Buy stock now before stock hits $10k before end of this year.. FOMO!
Imagine a Roadster with Cold Gas thrusters that’s actually a Taki. I would also love a. Cybertruck Taki
I'm a cab driver and unfortunately couldn't afford a tesla….id love for tesla to bring out a 7 seater with a decent price point….🙄🙄🙄 spending a minimum of $35000 Just can't be justified against my usually buying a second hand diesel car for 8k that I get 4 years use out of…🙄
They will have to make big jumps in refueling time though, or have massive numbers on the market. High charge times can make a big impact on how much money a driver can make. But the tip factor is also one not to be overlooked. It will be an interesting transition
Topic of next video: "Tesla short shorts will make billions"
Over 5 years a Toyota, any Toyota needs an extra $3000 in repairs of any kind? Nope, not buying that at all.
Haha. Tesla will dominate the world. Did you know they made a Covid-19 vaccine.
Which low cost ?
OK stay Taxis driver. Let SpaceX to Nasa.
We come back with KJell.
We make changes in the system and they install us.
Good angle–the argument here is for max cost effective for heavily used car operations.
Old Toyota cost about $500 to a $1k a year to maintain. Not $6k
Old hat in Europe. The model S is not very suitable due to its large rear doors, hard to get in.
Excellent point! but I think it would account for a temporary bump as taxi drivers will progressively become obsolete as a robotaxi will take over (less $ / miles)
Toyota only sold 2.3 Mio cars. I thought they are producing 10 Mio a year?
holly sh!t …. pay someone to do the voice over because your voice and reading ability suxxxxxxx the big one
If these things ever go driverless the taxis will get completely destroyed due to vandalism.
the taxi should be like a small minivan, back seats roomier for customers
Great ideas Tesla ….
Million mile battery plus power pack swap outs will dominate the market
Great videos man, big fan, Appreciate your consistency. Just came from a video where the channel had 100k subs and he rambled on about a "secret" regarding tesla that others aren't talking about. Wasted so much of my time. Your videos are gold compared to others on Youtube that just seek to increase viewer watch time.
Need another Gigafactory in Europe to supply taxi demand.
Petrol is much more expensive in Europe which increases the savings, nearly £6 per gallon in U.K.
Hm, so the obvious question is, does the Model 3 LR hold up for a normal shift of taxi driving, or how often does it need a charge.
Market saturation will dilute those profits. Imagine NYC flooded with autonomous taxis. The city then must act to limit the number of taxis on the roads just like with Uber, and starts requiring medallions just like they did with human taxi drivers. This limits the market to the big players who can afford a fleet of robotaxis and who can shell out the money needed for medallions. The more taxis there are, the less each potential each taxi has for profit, putting the smaller guys with 1-2 robotaxis at a huge disadvantage. That with the repeated upkeep for needed for cleaning, charging, tires, etc., it could end up causing a lot more problems than it fixes.
I love your continual updates concerning Tesla. Tesla Taxis it even sound right!
Excellent analysis (as usual) of a huge market. Long term cost of ownership should be groundbreaking. Safety is also a plus. Thanks!
What's your thoughts on Tesla stock price between now and battery day?