Taxi fares in Hong Kong increased on July 17 this year, about two months ago.
According to past experience in the market, after the fare rises, the general list price also rises.
However, according to the data, the taxi price in the urban area has not yet rebounded.
According to the taxi license information provided by the Transport Department, the car dealership with the most licenses is still Taihe Motor Co., Ltd., with 603. According to the license price in September, the annual net worth has shrunk by 362 million yuan, and the top ten holding the most taxi licenses Among the car dealers, there are six dealers whose net worth has evaporated over 100 million yuan.
The net worth of the ten auto dealers has shrunk by about 1.33 billion yuan.
In addition, according to the information of the Transport Department, the number of registered taxis from April to June this year also fell below the 18,000 mark, that is, about 200 taxis were unlicensed, and the number was comparable to the fleet of large taxi dealers. scale.
Shun On Motor Co., which owns 199 taxi licenses, has lost about 120 million yuan in net worth this year. Its person in charge, Zhou Guoqiang, said bluntly: "It is very painful, and it is very sad."
He said that the increase in taxi fares is lagging behind, costs such as insurance premiums continue to rise, and it is difficult to find drivers, and the number of licensed taxis has never fallen below 18,000 in the past.
Zheng Kehe, the founder of Loyalty Motor Co., which ranks third in the number of taxi licenses, said that the price drop will definitely have an impact, and assets will depreciate.
Tang Yuefeng, the person in charge of City Car, which is also one of the "Top Ten Car Dealers", also pointed out that the price of taxis depends on supply and demand, but it is not optimistic for the time being. At present, the bank still has arrangements for car owners to repay the interest and not repay the principal. Once the relevant arrangement is cancelled, there may be car owners who cannot support it.
According to the information provided by the Transport Department, as of August 19, the top 10 car dealers with the largest number of taxi licenses, the same as two years ago, the top three with the most license plates are still Taihe Motors (603), Hong Yield Taxi (309) and Loyalty (259), of which the former two purchased about 20 more license plates than two years ago.
The major shareholders of the three auto dealers are Wu Wei, Chen Ruqiang and Zheng Kehe.
The net worth of six auto dealers has shrunk by more than 100 million yuan
According to the data from the Taxi United Exchange, the price of taxis in the urban area was about 5 million yuan in September last year, dropped to about 4.8 million in early January this year, and dropped to 4.4 million recently, that is, it has dropped by about 600,000 yuan year-on-year. .
Even if taxi fares are raised, it will not help taxi prices to rebound.
If calculated according to the number of taxi licenses held by each taxi dealer, among the top ten taxi dealers, the top six dealers have lost more than 100 million yuan in net worth each, among which the top three major dealers have large net worth. A decrease of about 362 million yuan, 185 million yuan, and 155 million yuan.
Up to 200 taxis not renewed
Apart from the drop in price, the number of licensed taxis in Hong Kong has also hit a new low in more than a decade.
There are a total of 18,163 taxi licences in Hong Kong. According to the Transport Department's monthly traffic report, from April to June this year, the number of registered taxis was the same as the total number of licences, but the total number of licensed taxis fell below the 18,000 mark. That is, about 200 taxis have not been renewed.
Looking through the data, the last time the number of licensed taxis fell below 18,000 was in 2005.
Zhou Guoqiang of Shun'an Motor Co., Ltd
Shun On Motor Co., Ltd. holds 199 taxi licenses. The person in charge, Zhou Guoqiang, is the chairman of the Hong Kong Taxi and Minibus Association.
He said that factors such as rising oil prices and insurance premiums, the war in Russia, and the US interest rate hike have affected investor confidence; but the bigger problem is that Uber has affected the taxi business, criticizing the government for not cracking down and the token price falling. "It's very painful. It is also very sad because you have seen it, this is not our fault, not the society's fault, but the government's fault."
Zhou Guoqiang, the person in charge of Shun On Motors.
(File photo/Photo by Lu Yiming)
Zhou Guoqiang also pointed out that taxi fares are lagging behind, and the fare increase cannot keep up with inflation. Some drivers have switched to Uber or have immigrated. Various factors have affected the taxi industry. The owner simply stopped buying insurance temporarily.
He criticized the government for only unilaterally requiring taxis to improve their image, but regarded the industry as an "abandoned soldier", and said bluntly: "I ask my heart, when there is no need to increase the labor force, I will try to make a good taxi image."
Zheng Kehe, a loyal car dealer whose net worth has shrunk by 155 million yuan: operating on the principle of rent collection
Loyalty Motor Co., which owns 259 taxi licences, estimates that the drop in the price of the licences has shrunk its net worth by $155 million.
Zheng Kehe, the founder of the car dealership and the permanent president of the Taxi Drivers Association, also said that the epidemic has reduced the number of rental car drivers, and the impact of interest rate hikes has caused the overall price to drop.
He continued to point out that although taxi fares have been increased recently, in fact, even before the outbreak of the epidemic, there were not enough drivers. In addition, the taxi insurance premiums have been rising in recent years, increasing to 50,000 to 60,000 yuan. As a result, some car owners did not renew their insurance. Stopped taxis.
Zheng Kehe, founder of Loyalty Auto (file photo)
Talking about the impact of the price drop, Zheng Kehe said that there must be an impact, assets will depreciate, but there is nothing to do.
He went on to point out that the car dealership is not a short-term trading taxi, but a long-term rental of taxis based on the principle of rent collection.
Tang Yuefeng, a city car dealer: not optimistic about the brand price
With 120 taxi plates, City Motors is the eighth largest taxi dealer in Hong Kong.
Tang Yuefeng, president of the Hong Kong Taxi and Minibus Merchant Association, himself is in charge of city cars. He also said that there is a serious shortage of drivers at present, and many old taxis cannot be rented out. The industry offers car rental discounts to retain drivers during the epidemic.
He continued to point out that the increase in interest rates will affect the listed price. Some car owners are offering cars. At present, banks still have arrangements to repay the interest but not the principal, but it is unknown how long the measures will last. Some banks have already begun to hope to repay part of the principal. I'm worried that some car owners can't afford it.
Tang Yuefeng, head of the city car dealership (Hong Kong Chinese Innovation Association)
Tang Yuefeng continued to point out that once it cannot be repaid, the bank may take the car for auction.
In addition, some "single-headed" drivers are old and may release their license plates to prevent the price from continuing to fall.
He said that the listed price is always a matter of supply and demand. When the above situation occurs, it is possible that the token price will fall further. It is difficult to fully predict at present, but he is not optimistic.
The non-operating speculative car rental of the car dealership affects the actual income
When asked about the impact of the listed price on him, he said that it is only the net worth on the book that has decreased, but the car dealership is not engaged in speculation, and the level of car rental affects the actual income.
He expects that after the epidemic is over, when life returns to normal, drivers are doing well, and car rental returns to normal levels, the price will rise.
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