Used black cab market subdued but shifting as diesel taxi supply tightens
The second-hand black cab market remains subdued, with fewer new taxis entering the London fleet. According to a fleet expert speaking in TAXI Newspaper, the slowdown is having a knock-on effect on prices and availability.
Pre-owned TXEs remain a solid option for buyers, but the ageing diesel fleet is seeing values decline. The expert pointed to a growing issue with spare parts, which is making diesel models harder to maintain.
Beyond London, demand for ex-London TXs is rising. Provincial drivers are moving away from older diesel models, with many citing the difficulty in sourcing spare parts. The trend could soon influence buying patterns in the capital, as operators weigh up long-term viability.
The London black taxi fleet expert said in TAXI Newspaper: “The second-hand cab market is also very quiet, probably as a result of so few new cabs joining the fleet. There are still good deals on pre-owned TXEs but as the diesel fleet ages and spares become harder to get, the values are starting to drop.
“Some of this can be attributed to falling demand outside London where there is growing demand for ex-London TXs, as provincial drivers are starting to move away from older diesels. They often cite the lack of spares as the reason, something I suspect will soon start to influence buyer decisions in London.”
