Singapore taxis

There are 28,000 taxis in Singapore, owned by 6 companies.

They rent the cars to drivers for (on average) $150 per day. The drivers also cover petrol costs.

That’s a $1.5b per annum cartel.

The 6 companies buy the cars and maintain them. Their cost base is therefore around $0.5b, worst case at $20k per car per year.

That’s $1b profit less government fees and tax and their own inefficiencies.