Uber squeezes traditional taxi firms’ market

A Uber driver with an app on his phone, as they handed over a petition signed by over 205,000 people to Transport for London - ahead of a consultation by TfL on private hire in the capital - at 197 Blackfriars Road in London. PRESS ASSOCIATION Photo. Picture date: Tuesday December 22, 2015. Photo credit should read: Yui Mok/PA Wire
A Uber driver with an app on his phone, as they handed over a petition signed by over 205,000 people to Transport for London - ahead of a consultation by TfL on private hire in the capital - at 197 Blackfriars Road in London. PRESS ASSOCIATION Photo. Picture date: Tuesday December 22, 2015. Photo credit should read: Yui Mok/PA Wire

The growth of app-based Uber is meaning that traditional taxi firms are losing out, according to new research.

The turnover of the top 100 UK taxi and minicab firms has fallen for the first time in five years, as Uber increasingly strengthens its market share, research by accountancy firm Moore Stephens has found.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting