Who Owns New York’s Cabs?


NEW MEDALLIONS: 300 were sold by the city this month in the second auction since the Depression. 600 more will be sold in the next two years.

PRICE: $712,101 was the top price paid at corporate auction two weeks ago, another was held for independents.

MINIMUM BID: $233,000 at independents auction, $550,000 (for two) at corporate.

SOLD TO: 174 medallions went to corporate owners, 126 to independents.

CURRENT OWNERSHIP: 17 percent of medallions are owned by cab fleets; 54 percent are owned by leasing agents, who delegate management to fleets; and 29 percent are owned by independent drivers.

Who Owns New York’s Cabs?