Singapore Taxi Driver average Income calaulations

The Sources are from LTA publications on their web site. We all know statistic only tells one side of the story, be it accurate or not, depending on the context you are applying. Let me show you some interesting numbers.

There are 28,210 Taxi registered in Singapore. Daily ridership is 967,000 trips. That is averagely 34.2 trip per taxi. Per trip is about 9.7 km.

Let do some calculation based on above figure to come out an average income for Taxi drivers.

Assumptions:

Meter starts at $3.2. 

Every 400 m travelled is 22 cents.

Each day makes 3 x $3 surcharge pick up fare (CBD in the evening or airport)

Each Taxi makes 34.2 trip per day.

Each pick up tavels 9.7 km.

40% of the trip attracts 25% peak hour charges

Taxi Rental is $115 per day. (sedan from $100- $133)

Daily km travelled = 34.2 trip x 9.7km = 331km

Diesel/Petrol = 10km/L diesel or Petrol = 33L diesel/petrol per day

Retail Diesel =$1.2 /L Petrol = $2.2/L

Calculations:

Per off peak Trip is $3.2 + (9700/400)x0.22 =$8.53 

Per Peak hour Trip is  $3.2 + (9700/400)x0.22 x 1.25 = $10.66

Daily collections for off peak trip (20.52) per day =  $8.5 x 20.52 = 174.42

Daily collections for peak hour trip (13.68) per day =  $8.5 x 13.68 x 1.25 = 145.35

Airport +city surcharge = $9.

Total Daily collection = $328.77

Cost - Daily Rental =$120

Cost - Daily Diesel =$1.2 x 30L = $36

Average Take home = $328.77 - 115 -$36 = $177

Now the bomb shell = 80% of the Taxi is operated by 2 driver in 12 shifts.

That  is S$177 / 2 drivers = $88.5

Notes:

Rental can be as low as $69 for PRIME Honda Fit (OMO only) or $175 for a Mercedes Benz.

Starting meter fare can be from $3.2 (standard sedan taxi) to $5 (SMRT Chrysler)

In theory OMO (one man operation) working 15 hours can collect $177 or more, 12 hours shift is set to collect $88 per shift. 

Also I have not taken into consideration of 50% surcharges after midnight or call booking charges. That would add $10 to $30 depending on the type and the number of bookings.

There are slightly more than 28000 Taxi registered in Singapore. During evening Peak hour, around 80% of Taxi are on the road. That is about 22400 taxi. (In theory only)

If Singapore is a fine city (tongue in cheek), drivers should be fined for not driving during those hour. But the most effective way is to provide incentive for drivers to meet the 250km /day or driving during peak hours. After all, they are driving for themselves for a profit.

Let us look at the trend between Lucky Plaza and ION. Far East Plaza comparing to Lucky Plaza. One is outside CBD and one is inside CBD. What does it tell you about the 2 times longer waiting time for TAXI?  The Driver will go where they can make a higher profit, after all, they are business man too.

The difference in collection is $3, for an average collection of $10 per trip. It is a 30% increase.

Source: Screen Captured from SG LTA website (2014 July)