Taxi drivers veto the Vito as cab orders take a nosedive

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The trading statement from the Vito's UK distributer and developer Eco City Vehicles comes just a few weeks after traditional cab maker Manganese Bronze said it was regaining market share from the Vito.

Eco City seemed to contradict that, saying today that its share of the London taxi market was "building momentum".

It also claimed the reason for its orders falling was that drivers had been holding back their purchases until the new model was launched in April. Margins fell from 17.7% to 13.7% as it cut prices to shift stockpiles of the outgoing model.

Chief executive Peter DaCosta said: "Our first-half results were affected by challenging trading conditions and a blip in new orders whilst customers waited for the much anticipated launch of our latest Mercedes Euro V Vito taxi."

Revenues fell 9.2% to £11.6 million.