ComfortDelGro to raise cab fares, extend surcharge hours

COMFORTDELGRO : C52 0% will be raising taxi fares and extending surcharge hours from Dec 13, the listed transport behemoth said on Wednesday (Dec 6).

There will be a S$0.50 increase in flag-down fares and a S$0.01 rise for distance and waiting time fares for regular taxis. This adjustment will apply to the Hyundai i40, Hyundai Ioniq, Hyundai Kona, BYD e6, Toyota Prius, and Toyota Sienta taxis.

With the hike, flag-down fares would rise to between S$4.40 and S$4.80, from between S$3.90 and S$4.30.

The flag-down fares for limousine taxis will remain at S$4.80, following the recent revision on Nov 30, but the distance and waiting time fares will inch up to S$0.36 from S$0.35.

The evening peak-hour surcharge for all taxis will be extended by one hour, beginning from 5 pm instead of the current 6 pm, to 11.59 pm, seven days a week, including public holidays. A new peak-hour surcharge will be introduced, from 10 am to 1.59 pm on weekends and public holidays.

The peak period surcharge amounts to 25 per cent of the metered fare. 

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These adjustments, ComfortDelGro said, are to help taxi drivers defray higher operating costs due to rising fuel prices, high inflation and the impending Goods and Services Tax hike.

Tommy Tan, CEO of ComfortDelGro’s Taxi Business, said: “As we analyse taxi demand patterns, there is also a need to review the evening peak hours and introduce weekend peak hour surcharge to ensure adequate taxi supply to meet increased commuter needs during the peak hours.”

ComfortDelGro owned a fleet of 8,841 Comfort and CityCab taxis as at October, based on the latest figures from the Land Transport Authority. Revenue for its taxi and private hire business in the third quarter to September rose 3.3 per cent to S$147.6 million, while operating profit surged 43.5 per cent to S$28.7 million.

Coincidentally, Trans-cab and Prime Taxi took out newspaper notices on Wednesday, announcing the same peak-hour surcharge adjustments as ComfortDelGro from Dec 13. They are extending the evening surcharge period by an hour and introducing the surcharge from 10am to 1.59pm on weekends and public holidays.

Trans-cab and Prime Taxi had 2,109 and 532 cabs respectively as at October.

ComfortDelGro shares closed 3.1 per cent or S$0.04 higher at S$1.34 on Wednesday.