Dubai Taxi boosts market share to 46% with 5,660 vehicles
The Roads and Transport Authority assisted the Dubai Taxi Company in holding its most recent auction, which resulted in the purchase of 94 extra license plates.
This represents a substantial increase in the company's fleet. With a predicted market share of 46% for the current year, this procurement raises the total number of new taxi cars introduced in 2024 to 445, solidifying the company's position as the leading player in Dubai's transportation industry. The company's strong financial position and potential for further growth and expansion are highlighted by this rise.
The Dubai Taxi Company's fleet has grown to 5,660 cars, demonstrating its continued dedication to strengthening its operational and strategic capacities. This move is in line with its expansionary goals in the taxi industry and its unwavering commitment to providing transportation services that meet the highest international standards, with an emphasis on innovation, distinction, digitalization, and sustainability to make daily commuting for residents of Dubai as easy as possible.
The CEO of Dubai Taxi Company, Mansour Rahma Al Falasi, stressed that the company's sustainable growth trajectory across operational and investment fronts is reflected in the addition of 94 new taxi cars. It is anticipated that this growth from 5,216 vehicles in 2023 to 5,660 in 2024 will have a major impact on the company's revenue growth and strengthen its position as the top financial player in the Dubai Financial Market. Furthermore, this action is likely to increase shareholder value and provide investors with large returns.
Al Falasi emphasized that this fleet growth is a component of the business's dedication to developing Dubai's transportation industry. Stronger taxi fleets translate into more daily trip capacity; therefore, it is expected to improve Dubai Taxi's operating skills and raise the bar for service supply.
Furthermore, Dubai Taxi Company remains proactive in its efforts to meet the evolving transportation needs of Dubai, as evident in its recent doubling of the airport taxi fleet by adding 350 new vehicles. This proactive stance underscores the company's readiness to provide transportation services aligned with Dubai's status as a global tourist destination and its population growth trajectory, in line with the objectives of the Dubai Urban Plan 2040 to offer sustainable and adaptable transportation solutions for all residents and visitors.
