Lately, England and Wales’s non-public rent automobile (PHV) sector has skilled important modifications, with the variety of drivers steadily growing. The most recent taxi and personal rent automobile statistics for England and Wales reveal fascinating insights into these tendencies, highlighting each the expansion in non-public rent driver numbers and a few ongoing issues, notably in London.
A Nearer Have a look at the Numbers: Development in Personal Rent Drivers
The most recent taxi and PHV licensing tendencies in England for 2024 point out a marked rise within the variety of non-public rent drivers, in keeping with tendencies seen in earlier years.
Chart 1: Whole licensed taxi and personal rent autos and drivers: England, since 2005 – TAXI0102
Regardless of a dip through the pandemic, the variety of non-public rent autos has rebounded to ranges seen earlier than the outbreak, signalling a strong restoration. The enchantment of versatile working hours and the low obstacles to entry supplied by app-based ride-hailing companies like Uber and Bolt proceed to draw new drivers to the trade.
This development is especially noticeable outdoors London, the place non-public rent autos have expanded their presence.
Chart 2: Licensed taxi automobile numbers in London, and England and Wales outdoors of London, from 1972 – TAXI0101
Areas that beforehand had restricted transport choices now profit from the elevated availability of personal rent companies, providing shoppers extra selection and comfort. This pattern is mirrored within the PHV statistics, which present a extra widespread distribution of licenses throughout England, indicating that personal rent autos have gotten a staple of transportation even in smaller cities and rural areas.
London: A Totally different Story
Whereas the general pattern is certainly one of development, London presents a contrasting image. As soon as a hub of taxi and personal rent exercise, the capital has seen a gradual decline in licensed black cabs (BCs). This pattern has raised issues amongst trade stakeholders because the variety of conventional taxis on London’s streets continues to dwindle.
Chart 3: Licensed autos by sort and space: England, since 2005 – TAXI0101
As at 1 April 2024:
- there have been 56,400 licensed taxis, a 1.4% lower from 2023
- licensed taxis in London fell by 2.1% in comparison with 2023
- licensed taxis in England outdoors of London fell by 1.1% in comparison with 2023
- there have been 256,600 licensed PHVs, a ten.5% improve from 2023
A number of elements contribute to this decline. The rise of personal rent autos has definitely performed a task, as has the growing desire for app-based ride-hailing companies. Moreover, stringent emissions rules and the monetary pressures of sustaining a black cab in a aggressive market have led many drivers to both retire or swap to personal rent autos, usually seen as a extra viable choice.
This decline is not only a matter of nostalgia; it has sensible implications for London’s transport infrastructure. Black cabs have lengthy been valued for his or her data of town, skill to navigate complicated routes, and wheelchair accessibility. As their numbers dwindle, there are rising issues about how effectively these wants might be met sooner or later.
Publish-Pandemic Rebound and Insurance coverage Issues
The non-public rent automobile sector was not proof against the impacts of the COVID-19 pandemic. Throughout the lockdowns, demand for all types of transport plummeted, resulting in a brief decline within the variety of licensed drivers. Nonetheless, as restrictions lifted and the economic system started to get well, so too did the non-public rent trade. At present, the variety of non-public rent autos is once more on the rise, approaching pre-pandemic ranges.
For the insurance coverage sector, these tendencies current each challenges and alternatives. The rise in non-public rent drivers means there’s a rising marketplace for insurance coverage merchandise tailor-made to their particular wants. Nonetheless, the aggressive nature of the trade, notably with the continued decline of black cabs in London, may result in financial pressures on drivers, making it essential for insurance coverage brokers to supply versatile and inexpensive insurance policies.
Training additionally performs a vital position right here. Many new drivers coming into the market might not totally perceive the dangers of insufficient insurance coverage protection, particularly in a extremely regulated atmosphere like London. Insurance coverage brokers like Plan have an important position in serving to these drivers navigate the complexities of insurance coverage, guaranteeing they’ve the proper protection to guard themselves, their passengers, and their autos.
Plan Insurance coverage can present bespoke taxi insurance coverage quotes for all UK drivers. Simply fill in our quick on-line questionnaire, and our skilled brokers will keep up a correspondence to rearrange your insurance coverage.
Accessibility and the Way forward for Transport
One other important concern highlighted within the newest taxi and personal rent automobile statistics is the problem of accessibility. Whereas non-public rent autos have made strides in turning into extra out there throughout the nation, there may be nonetheless a necessity for extra accessible autos, notably for wheelchair customers. This space is the place conventional black cabs have traditionally excelled, and their decline raises questions on how these wants might be met shifting ahead.
Map 1: Proportion of licensed autos that have been wheelchair accessible in 2024 by licensing authority, England – TAXI0104
For personal rent drivers, investing in accessible autos cannot solely open up new buyer bases but additionally align with broader societal targets of inclusivity and equality. Insurers, too, can help this shift by providing incentives for drivers who spend money on accessible autos or bear specialised coaching to serve passengers with mobility wants higher.
Wanting Ahead: The Street Forward
As we transfer additional into 2024, England and Wales’s non-public rent automobile sector is clearly on an upward trajectory. Nonetheless, the regular decline of black cabs in London stays a priority that warrants shut consideration. The continued development of personal rent autos outdoors the capital and the post-pandemic rebound current alternatives and challenges for drivers, insurers, and policymakers alike.
At Plan Insurance coverage Brokers we perceive the distinctive wants of taxi and personal rent drivers. By providing tailor-made insurance coverage merchandise and fostering schooling round protection necessities, we goal to play an vital position in supporting security requirements and ranges of professionalism throughout the taxi and personal rent sectors.
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