{"id":357171,"date":"2019-12-24T07:00:08","date_gmt":"2019-12-24T05:00:08","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=357171"},"modified":"2019-12-24T16:01:55","modified_gmt":"2019-12-24T14:01:55","slug":"heres-how-much-taxi-fares-have-increased-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/357171\/heres-how-much-taxi-fares-have-increased-in-south-africa\/","title":{"rendered":"Here’s how much taxi fares have increased in South Africa"},"content":{"rendered":"

SA Taxi owner Transaction Capital recently published its results for the year ended September 2019, outlining the current state of South Africa’s taxi industry.<\/p>\n

The group said that approximately 69% of households use minibus taxis in 2019, up from 53% in 2003. This equates to around 15 million commuter trips a day.<\/p>\n

However, the group noted that there are also a number of issues facing the industry including the rising costs of vehicles and petrol.<\/p>\n

It estimates that the average price of a Toyota HiAce minibus-taxi is now R451,600 – a 24% increase since 2015.<\/p>\n

At the same time, it noted that the November fuel price of R15.53 per litre (petrol) is only 6% lower than the all-time petrol price in October 2018.<\/p>\n

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Taxi fares\u00a0<\/strong><\/p>\n

Transaction Capital said that fares are determined by each association per route and are designed to ensure that ensures operators remain profitable.<\/p>\n

It added that demand for minibus taxi services is relatively inelastic and that a number of factors are considered when looking at fare increases, including:<\/p>\n