- London's shortage of new purpose-built taxis is keeping demand for used black cabs high.
- Drivers are delaying buying decisions as uncertainty grows over the next LEVC taxi.
- Dealers continue to replenish secondhand stock quickly as demand outpaces supply.
London's used black cab market continues to thrive as the shortage of new purpose-built taxis leaves drivers with few alternatives. With no confirmed launch date or details for the next-generation taxi, many cabbies looking to replace their vehicles are turning to the secondhand market instead.
The continued shortage has kept demand for used LEVC TXE taxis strong, according to the latest Cab You Drive column published in TAXI Newspaper. While some dealerships continue to replenish stock, drivers are still competing for a limited pool of well-maintained vehicles.
A market stuck in limbo
The column suggests little has changed in the availability of taxis over recent months. "At present, nothing much has changed in regards to cab availability. Outside of the main dealers there is very little around," the writer said, as quoted in a news report.
It added that Brewery Road currently has "over 100 secondhand TXEs" and continues to restock as soon as vehicles are sold. Even so, the speed at which dealers are replacing inventory points to sustained demand from London's taxi trade.
With almost no new purpose-built taxis entering the market, drivers needing to replace ageing vehicles have few options beyond buying used models. That has helped keep demand and values of secondhand TXEs relatively strong.
Waiting for the next black cab
Much of the uncertainty centres on the successor to the LEVC TX, which has yet to be formally announced.
According to the column, the questions most commonly raised by drivers are whether the next taxi will be a fully electric vehicle or a range-extender, when it will arrive and, perhaps most importantly, how much it will cost.
That uncertainty is reportedly influencing buying decisions across the industry. Some drivers are choosing to wait in the hope that a new model will offer better range or a more affordable price. Others cannot afford to delay and are instead turning to the used market because they need a vehicle immediately.
The writer concluded that the trade remains in a holding pattern. "At present, nothing much has changed in regards to cab availability," the column stated, adding that "we're all waiting", as quoted in a news report.
Until a new purpose-built black cab is officially unveiled and enters production, the shortage of new vehicles is expected to keep the used black cab market busy, with demand likely to remain strong as London's existing taxi fleet continues to age.
