Taxi medallion to "The Washington Post", medallions were "the best investment in America", but—due to increased competition from app-based car services and transportation network company growth from companies like Uber and Lyft—taxi medallions are now decreasing in price. In 2013, the price of a medallion was $625,000. In 2014, that price had risen to around $700,000. In 2014, a medallion was worth nearly $700,000. The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. In 2012, medallion prices ranged from $87,000 to $385,000. In 2015, Chicago's average medallion price was under
Car App errors. Some apps along with additional hardware give keyless access to the car and let the owner start the engine using a smartphone. Drivers can install a dash cam app and use the smartphone to capture the driving process. The information about owner's driving habits can be recorded by car software with the help of OBD port. If vehicle speedometer is not functioning properly car apps can provide accurate car speed. Car software collects live data about road signs, speed limits and traffic cameras ahead. Some car apps send real time notifications about road accidents, traffic jams en route. OBD