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11 April 2017
Start of 2017 sees strong pick up in taxi sales

Start of 2017 sees strong pick up in taxi sales
  • Total sales for new Euro 6 diesel cabs in the UK are up 28% on this time last year
  • Most of these drivers are trading in older diesels for new cabs – reducing NOx emissions from the sector ahead of the launch of electric taxi later this year.
  • In March, the number of taxis licensed in London rose for the first time since September 2015.
  • Enquiries for new taxis are also up on the first quarter last year. 13% higher than the previous years’ figures.
  • Following this positive start to the year, LTC is reaffirming its commitment to the cab trade by offering to subsidise the increase in vehicle excise duty on all new cabs from the 1 April. 

The London Taxi Company (LTC) has seen a significant jump in first quarter sales compared with the same period last year. Sales of the latest Euro 6 diesel cabs are up 28% across the UK, with strong growth from owner drivers. This comes at the same time as the number of licenced black cabs in London has risen for the first time since September 2015.

One reason for the growth in sales has been the launch of the “Limited Edition” cab, the last 300 diesel cabs to be manufactured by LTC for the UK market. The launch of this final edition of the current black cab has also seen a significant rise in enquiries from drivers, with calls from drivers up 13%. Changes to vehicle excise duty rules have also played a role in driving sales.

Most of these new cabs will replace older diesel vehicles which will also have the positive near-term effect of reducing emissions from the sector – whilst cab drivers wait for the launch of LTC’s range extended electric cab later in the year.

 “Over the last few months we have seen a strong performance driven by the arrival of the Limited Edition and the desire of drivers to upgrade ahead of the vehicle excise duty rise. Over the next few months, as production of the diesel taxi will shortly cease and remaining stocks sell out, we expect to see a slowdown in sales.”

“However, we are keen to support drivers looking to move away from older diesel vehicles in the near term and so are offering to pay the rise in Vehicle Excise Duty for all customers purchasing a new Euro 6 cab,” said Richard Gordon, Commercial Director at the London Taxi Company.

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Notes

  • 227 new black cabs have been sold so far in 2017, an increase of 28% on the same point in 2016.
  • LTC will pay the rise in Vehicle Excise Duty (that came into effect on 01 April, and is currently £550) for all customers purchasing a new Euro 6 cab. This offer will run until June 2017.
  • LTC are already contributing £1500 towards the finance costs on new TX4 purchased through Black Horse.
  • LTC is currently manufacturing its final 300 “Limited Edition” cabs for the UK market.
  • Limited Edition cab, with its Euro 6 engine, offers a NOx emissions reduction of at least two thirds when compared with older cabs.

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