The Taxi was designed by Larry Wood. It is based on a 1980s Chevrolet Caprice, a car that was a staple of taxi fleets across the U.S.
The casting debuted in 1982. Model 5181 was part of "The Hot Ones" series from that year, featuring GHO wheels.
The casting features a plastic "TAXI" sign on the roof and typically came in a classic yellow taxi livery. "The Hot Ones" version from 1982 was known for being very fast on the track.
It is the successor to the earlier "Maxie Taxie" (Checker cab) and the predecessor to many modern taxi castings.
Besides the yellow "Hot Ones" version, it was also released in the mainline with basic wheels. It has been used in various city-themed playsets and 5-packs over the years.