Southern Nevada taxicab companies had a rough 2016 marked by plummeting revenue and ridership, according to year-end figures released Friday.
More than 21.67 million taxi trips were logged in 2016, a 16.28 percent decline compared to a year earlier, the Nevada Taxicab Authority reported.
Through the end of December, the region’s 16 certified taxicab companies reported a combined $347.2 million in revenue over the past year, down 13 percent from 2015. Much of that decline was blamed on increased competition from Uber and Lyft.
Despite the drastic declines, the Taxicab Authority unanimously agreed this week that cab fares, rates and surcharges should remain unchanged for now, citing potential changes that could come up for a vote later this year by the state Legislature.
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