Taxi drivers face hefty expenses: Annual cost of running a taxi can exceed £22,000

In recent years, the cost of running a taxi has been a topic of concern for drivers in the bustling city, particularly those who have embraced the LEVC TX taxi. The prominent feature of the LEVC brand is its eco-friendly and innovative design. However, this advancement comes at a significant cost for drivers, with the average expense reaching an astonishing £350 per week, regardless of vehicle ownership or rental.

The £350 weekly payment covers essential factors such as vehicle expenses, insurance, and basic maintenance. This amount remains constant, regardless of whether the driver owns or rents their LEVC TX taxi. For individuals who choose to licence and operate standard saloon-style cars as taxis, the vehicle costs are lower, providing some financial respite.

Fuel costs are another considerable expense for taxi drivers, amounting to approximately £30 per shift. While this cost remains relatively consistent across the UK, drivers operating in rural areas or covering longer distances may incur higher fuel expenses due to their increased travel requirements.

On top of vehicle and fuel expenses, taxi drivers must also endure annual licensing fees for their taxis. This additional financial burden further contributes to the overall cost of operating a taxi.

Taking all these factors into consideration, the annual cost of running a taxi can total over £22,000, significantly impacting drivers' financial stability. This financial strain is experienced even before the driver begins to generate a profit from their taxi services.