Chart of the Day: Taxi licence holders on the rise after Grab-Uber merger

Holders dwindled down by around 380 in H2 2017 amidst heated pre-merger competition.

This chart with data from CGS-CIMB and the Land Transport Authority (LTA) shows that the number of taxi licence (TDVL) holders in Singapore climbed after the Grab-Uber merger deal rolled out in March.

April 2018 data shows that the TDVL holders inched up 0.4% to 95,895 in April from 95,507 in March. By August, TDVL holders grew to 97,769 which is a 2.36% increase from March.

Before the merger deal, TDVL holders were decreasing. There were 96,085 TDVL holders way back in December 2017, suggesting that around 578 holders lost their licences.

“Taxi licence (TDVL) holders saw an average monthly loss of around 380 over the July to December 2017 period amidst intense competition between Grab and Uber,” CGS-CIMB said.