YES, THE MEDALLION IS STILL ALIVE

Editorial: Today's AutoMarketplace report paints a sobering picture, highlighting a sharp 13.2% drop in yellow cab trips as over a thousand new TLC-plated WAVs flood the FHV market. There is no sugarcoating that the immediate utilization numbers are stressed. However, looking past the month-to-month volatility reveals a very different financial reality than the crash of a few years ago.

Even with recent trip declines, deflated medallion prices (holding between $90k and $150k) are actively attracting highly disciplined fleet buyers and owner-operators. Thanks to the 2021 debt restructuring and deep e-hail integration with Uber and Curb, the underlying economics have shifted from reckless speculation to a calculated, stable baseline of operations.

Below is a clear look at why buyers are still stepping into the market today, the financial breakdown of current strategies, and the structural safety nets now protecting the industry.

THE QUESTION TO GOOGLE AI WAS:
WITH THE PRICE OF MEDALLIONS FALLING WILL THAT ATTRACT BUYERS TO BUY THE MEDALLION?

Yes, the current deflated price is attracting buyers, but the market has shifted from speculative investing to highly calculated fleet operations.

While the nominal number of yellow cabs visible on the street has dropped over the long term, medallion prices have recently climbed about 24%, moving from a low of $90,000 up to around $115,000�$150,000. This price range is attracting a specific type of buyer looking to cash in on restructured operational economics rather than the old "$1 million asset" hype.

1. Why Buyers Are Stepping In Right Now

The current market price is attracting buyers due to three foundational pillars:

2. Market Options and Financial Breakdown

If you are evaluating whether to enter the market at current prices, the financial landscape splits into two distinct paths:

Investment Factor	Owner-Operator Strategy	Corporate Fleet Strategy
Asset Cost	Cabs trade between $90,000 and $150,000.	Bulk purchases of cash/financed medallions.
Financing Reality	Roughly 5% down, 25-year amortization.	Narrowing gap between financed and cash deals.
Primary Risk	High physical volatility / driver fatigue.	Fragile regulatory environment.
Revenue Stream	Direct fare retention ($3,500+/week gross).	Passive lease-out income to shifts of shift-drivers.

Investment Factor

Owner-Operator Strategy

Corporate Fleet Strategy

Asset Cost

Cabs trade between $90,000 and $150,000.

Bulk purchases of cash/financed medallions.

Financing Reality

Roughly 5% down, 25-year amortization.

Narrowing gap between financed and cash deals.

Primary Risk

High physical volatility / driver fatigue.

Fragile regulatory environment.

Revenue Stream

Direct fare retention ($3,500+/week gross).

Passive lease-out income to shifts of shift-drivers.

3. Crucial Risks to Consider Before Buying

Despite the low price attracting buyers, substantial barriers remain:

The 2026 Trip Downturn: While 2025 saw a massive 17% yellow cab comeback, 2026 has reversed into a sharp downward trend, with trips dropping consecutive months in early 2026.

Heavy Storage Overhang: There are still over 2,600 medallions sitting inactive in storage. If market demand spikes and those stored medallions flood back onto the streets, the sudden injection of vehicle supply could suppress driver earnings and stall medallion price growth.

Autonomous Vehicle Threat: Testing by autonomous vehicle companies in Manhattan and Brooklyn poses a long-term existential threat to the value of human-driven taxi medallions.