Updated: Oct 12
TAXI Newspaper the 'Cab you Drive' columnist has shared insights into the intriguing dynamics of the London Taxi second-hand market. According to the columnist, late Euro VI Vitos are still commanding higher prices compared to Euro VI TX4s, primarily driven by the insatiable demand from airport drivers.
The columnist revealed that the demand for late Vitos, particularly from airport drivers, continues to outpace the supply available in the market. This disparity has resulted in late Vitos fetching higher prices than early LEVC TXE taxis, a trend that may seem peculiar at first glance.
The curious phenomenon is explained by the unique work requirements of airport drivers. The columnist suggests that by strategically targeting flyers and focusing on larger groups of passengers, as well as carrying freight, owning a late Vito becomes an advantageous choice. These factors collectively contribute to the decision of some drivers to hold onto their Vitos or pay a premium for them.
Despite the rise in popularity of electric LEVC TXE taxis, it seems that the practicality and versatility offered by the late Vitos are still winning over some industry professionals. Airport drivers, in particular, rely on these vehicles to efficiently transport larger groups of passengers and cargo, which aligns with their specific work demands.
The columnist also highlighted the stability of second-hand prices in the taxi industry, indicating that the value of late Euro VI Vitos remains steady. This stability has allowed sellers to command a premium for these vehicles, even surpassing the value of earlier LEVC TXE taxis.
The ‘Cab you Drive’ columnist in TAXI Newspaper said: “Second-hand prices are still stable, with late Euro VI Vitos taxis still fetching far and away more than Euro VI TX4s taxis, as demand for late Vitos, primarily from the airport drivers, still exceeds supply.
“In fact, I have heard tales of a late Vito commanding more money than an early LEVC TXE taxi, which on the face of it is nuts, but if you work the flyers, spend your time carrying four, five and six handers with loads of freight, it makes sense to try to hold onto to a Vito and pay the premium.”