Posted on: March 22, 2018 01:26 PM

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Yellow and green cabs liveries Uber Lyft to AV transition

What was once an extreme demanding purchase of $1 million dollars is now worth $175,000 and that's the yellow cab of NYC. The time frame was less than 5 years when private companies such as Uber and Lyft took off. Green cabs have declined rapidly. In the end, the company that gave credit to both yellow and green cab owners with the loan, Melrose Credit Union went bust. Even worst, four long time cab drivers committed suicide in the last four months in NYC alone unable to make ends meet. Some yellow cab drivers rent their vehicles for $1,600 per month to compete with livery cabs but not enough to pay the original payment. Auto insiders predict in few years time, former drivers of apps, Uber and Lyft will be obsolete when autonomous vehicles without drivers will be established from its current testing stage.