Sponsored Links AkaratPhasura via Getty Images The Department of Transportation’s Advisory Committee on Automation in Transportation (ACAT) hasn’t been active since it was formed in 2017. And it won’t be active anytime in the future, because according to The Verge, the administration has quietly killed it without even telling its members. Under President Obama, the… Continue reading US government quietly kills autonomous vehicle committee
Tag: Lyft
Skip scooters are returning to Washington, D.C. after battery fires
Following battery issues and a single-alarm fire caused by improperly disposed of batteries in Washington, D.C., Skip has been given the green light to resume operations in Washington, D.C. and the surrounding areas of Alexandria and Arlington. The plan is to redeploy the scooters in the coming weeks. In June, a battery on one of… Continue reading Skip scooters are returning to Washington, D.C. after battery fires
Uber shares tumble as profit figures disappoint
Uber’s shares went into reverse on Thursday after the taxi-hailing company unveiled profit figures that failed to live up to expectations. Revenue growth slowed in face of heavy competition, leading to the company posting its largest quarterly loss. Uber and its rivals are spending heavily to expand, but boss Dara Khosrowshahi said that the competitive… Continue reading Uber shares tumble as profit figures disappoint
Uber loses $5 billion, misses Wall Street targets despite easing price war
(Reuters) – Uber Technologies Inc (UBER.N) reported a $5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%. FILE PHOTO: Uber’s logo is seen on a smartphone screen as a picture of stock exchange graph is displayed on… Continue reading Uber loses $5 billion, misses Wall Street targets despite easing price war
Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
SAN FRANCISCO — Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth. The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether… Continue reading Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate
Lyft’s scooters steering new customers to ride-hailing, but winter is coming
FILE PHOTO: A man rides a Lyft scooter near the White House in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – A quarter of Lyft Inc LYFT.N customers who use its bikes and scooters are new to the company, executives said on Wednesday, outlining how investments in the expensive growth area may eventually… Continue reading Lyft’s scooters steering new customers to ride-hailing, but winter is coming
Lyft’s stock is a roller coaster after its Q2 earnings release
In its second quarterly earnings release as a public company, Lyft showed it still isn’t afraid to lose money as long as that means surging revenues. Update: The company’s stock price jumped as high as 12% after-hours following the Q2 earnings release, but by 1:30pm PT the stock had sunk below the day’s close (following… Continue reading Lyft’s stock is a roller coaster after its Q2 earnings release
Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
The auto industry is going through massive change — and Tesla and its outspoken CEO, Elon Musk, are seen as the great disruptors. But as Ford CEO Jim Hackett pointed out during a recent interview for CNN Business’ The Table with Poppy Harlow in Detroit, his company caused, arguably, the biggest industrial disruption of the… Continue reading Ford CEO: We were disrupting the auto industry long before Elon Musk – CNN
Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
(Reuters) – Lyft Inc posted a robust jump in revenue on Wednesday in its second-quarter results, helping the ride-hailing company to a better-than-expected loss as more riders used the service and price competition with rival Uber eased. FILE PHOTO: The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson/File… Continue reading Lyft raises forecast for 2019 as price war with Uber eases, ridership rises
Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It
Traffic Updates Ride-hailing apps like Uber and Lyft are directly responsible for making traffic in cities worse. That’s not new: studies have arrived at the same conclusions again and again. What’s different this time around, though, is that Uber and Lyft actually funded the study that came back to point the finger at them, according… Continue reading Ride-Hailing Apps Make Traffic Worse — And Now They’re Admitting It