The Model M Checker was introduced in November 1930. With two jump seats in the passenger compartment, it could easily accomodate 5 passengers. This came in handy when in 1932 New York City madated that all taxis had to seat up to 5 passengers.
In 1930, Markin continues to add taxi companies to Checker Motors including the addition of 2,100 taxis of Motor Cab Transportation of NY. He also takes a 61% stake in Parmelee Transportation and takes over Yellow Taxi of Chicago. The latter move allows him to switch the company from Yellow to Checker taxis. An order for 1,000 taxis is placed in 1931 at a price of roughly $2 million.
The 1929 market crash and subsequent depression takes its toll on Checker Motors. Net profit in 1930 drops to about $500,000.
In 1931, Checker Motors employs roughly 800 workers. Parmelee has about 17,000 drivers and carries 50 million passengers.