Taxi drivers altering schedules during peak hours
In the bustling city-state of Singapore, taxi drivers like Mr. James Quak play a crucial role in getting people from one place to another. But, have you ever wondered how these drivers manage their finances, especially with the daily rental fees and variable fares?
Taxi drivers in Singapore, such as those who rent vehicles from operators like GrabCab or ComfortDelGro, pay a daily rental fee that can range from SGD 110 to SGD 117, depending on the operator and vehicle model. This fee is a fixed cost that drivers must cover, regardless of the number of trips they complete.
The fare income, on the other hand, is earned from each ride completed. However, it's important to note that a commission fee is charged by the ride-hailing platform, typically ranging between 10% to 30% of the fare. Additionally, some platforms like Gojek may charge a flat driver fee per trip.
To determine which ride bookings to accept, drivers evaluate factors such as distance, fare amount, expected commission deductions, and potential traffic or time involved. The goal is to maximize efficient, profitable trips.
In an episode of Wheel Insights, Mr. James Quak discusses these aspects in detail, providing insights into the financial decisions that taxi drivers make every day.
Interested in keeping up with the latest news and must-reads? Join ST's WhatsApp Channel. For more, visit our ST Podcasts YouTube channel or check out our ST Podcast website.
Listeners can also follow the Wheel Insights Podcast on various channels, including the all-in-one ST Podcasts channel. Mr. James Quak, a taxi driver in Singapore, is one of the 89,000 qualified taxi drivers in the city-state.
The article was produced and edited by Amirul Karim, with executive producers Ernest Luis and Lynda Hong. To submit feedback, email [email protected].
Lastly, for those considering joining the taxi driver trade, it's essential to understand the financial dynamics involved. By juggling the fixed vehicle rental cost and variable fare income less platform fees, taxi drivers aim to accept rides that make financial sense.
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Taxi drivers like Mr. James Quak in Singapore, who rent vehicles from operators such as GrabCab or ComfortDelGro, must manage their finances carefully, considering the daily rental fees and commission fees from ride-hailing platforms, such as a 10% to 30% commission and potential flat fees per trip. To maximize profits, drivers carefully evaluate factors such as distance, fare amount, potential traffic, and expected commission deductions before accepting ride bookings.
