BoxVn Lends a Hand to Struggling U.K. Taxi Industry

-  Company providing secure storage of abandoned iconic taxis

-  Management reached out to help GB Taxi Services

-  Occupancy rates plummeted to round 10%

-  BoxVn’s continues to operate at 100% occupancy, demand remains high

LONDON, Dec. 08, 2020 (GLOBE NEWSWIRE) -- BoxVn Limited (OTCPINK:VCEX), an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, announced today, that in response to the well-publicized plight of London’s iconic black taxi drivers, BoxVn has generously offered to provide secure vehicle storage facilities for many vehicles relinquished by drivers, many of whom have received no or a severely diminished income since March. It has been reported that one in five vehicles have been taken off the road since the start of the coronavirus pandemic.

According to published Transport for London (TFL) reports, due to a lack of passengers during the coronavirus pandemic, the number of daily taxis on the road has dropped by more than three thousand. General Secretary Steve McNamara of the UK’s Licensed Taxi Drivers Association said London cabbies were earning "starvation wages", at around a quarter of normal levels. Many have received "no income at all". 

Black cab rental firms have been faced with the desperate situation of having to insecurely store the vast number of vehicles handed back by drivers in vacant fields. London-based rental company GB Taxi Services may have been hit the hardest. The company has seen its fleet occupancy rate of 100 black cabs drop from 95% before the crisis, to just 10% today. It is just one of many firms who have been using areas of farmland outside of London to store unwanted taxis so they can stop paying to insure them.

Conversely, rapidly growing demand for commercial drivers continues for BoxVn during this seasonally busiest time of year for commercial drivers. Thus, BoxVn’s own expanding fleet is already at 100% occupancy and routinely out on the road.  In an effort to offer support and fellowship, BoxVn recently reached out to GB Taxi Services leadership. We are now providing secure vehicle storage in our otherwise empty lot, helping to protect these landmark vehicles from vandalism and theft. 

James Gilzean, CEO of BoxVn, said, ““BoxVn approaches commercial vehicle supply with great care, attention, and respect, in an effort to improving the experience of the commercial driver. It is a very sad day to see the trade of the black cab driver suffer to such an extent. We’re very happy to be able to offer our support and hope there’s even more we can do by offering jobs to some of those cabbies who have lost their livelihood.”

About BoxVn Limited
BoxVn Limited started as a small recruitment business and quickly evolved into a driver and Light Commercial Vehicle (LCV) supply business offering services so unique that it has revolutionized flexible vehicle supply, unemployment and the driver recruitment life cycle to provide a dependable and integral service to one of the biggest and fastest growing sectors in the world, Our core business is the supply of Light Commercial Vehicles to logistics businesses on a flexible and medium-term basis, and is designed to serve logistics businesses and drivers first with a non-traditional approach offering a high-level of service at an affordable price point. For more information, please visit www.boxvn.co.uk.

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