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Urban traffic congestion has become a global problem and has garnered special importance in recent years in the transportation sector, especially in taxi markets. To unlock the potential of Internet of Vehicles (IoV) in Intelligent Transportation Systems (ITS), it was vital to make efficiency measurements. In this study, Distance Formula was built to calculate distances by GPS data based on mathematical equations, and Motorcade-Sharing (MS) Model was proposed to improve the efficiency of collaborative vehicles. The experimental data of 2191 GPS-equipped taxis in Sanya of China was adopted to make comparisons between original results and modelled results. Measurement results showed that MS Model had 10.54% more leisure taxis, reduced 5 overdriving taxis, and saved 33.73% running distance in total compared to the original. This indicated that the application of MS Model could not only alleviate urban traffic congestion but also optimize urban taxi markets, and it has a bright future in the field of taxi and other collaborative vehicles. Future directions could be improving MS Model and expanding data.

Taxi Efficiency Measurements Based on Motorcade-Sharing Model: Evidence from GPS-Equipped Taxi Data in Sanya