Working closely with Y-Risk to maximize efficiencies in its insurance program, HyreCar significantly reduced its costs, secured increased capacity, and enhanced insurance features that allow two new service tiers that better address the needs of customers. Photo via Depositphotos. HyreCar and Y-Risk, a brand of The Hartford, have renewed their parntership that supplies HyreCar with a multi-faceted… Continue reading HyreCar Renews Insurance Partnership
Tag: Lyft
Uber trims valuation by $30bn ahead of float – The Telegraph
Uber has trimmed its potential valuation by up to $30bn (£23bn) ahead of a much-anticipated initial public offering, as a lacklustre listing by rival firm Lyft has led the taxi-hailing app to cut back its estimates. Investment bankers and analysts have previously estimated Uber to go public at a valuation of up to $120bn in… Continue reading Uber trims valuation by $30bn ahead of float – The Telegraph
Lyft shares should only be worth $59 according to valuation guru
Mario Tama | Getty Images
Confetti falls as Lyft CEO Logan Green (C) rings the Nasdaq opening bell celebrating the company's initial public offering (IPO) on March 29, 2019 in Los Angeles, California.
When Lyft went public on March 29, it was valued at more than $20 billion, with shares priced at $72. Lyft shares have since declined and closed below the IPO price at $70.23 today, in part because of investors' worries over its nearly $1 billion in losses last year, and its high valuation.
The ride-hailing company should be trading closer to $59 per share, and valued closer to $15 billion, according to Aswath Damodaran, who teaches corporate finance and valuation at the Stern School of Business at New York University. That would imply about a 16% drop from today.
On CNBC's Fast Money, Damodaran explained there's fundamental problem with Lyft's business model that may have helped the company grow fast, but makes it hard for the company to make money:
“The driver is a free agent. The customer is a free agent. There is absolutely no stickiness in the business, and they know it. That's the basic problem I have with the ride-sharing business not just Lyft. What they have succeeded at is changing the way we use car service. I have Uber and Lyft on my phone and I never take a cab. What they haven't figured out is how to make me stay with them. I'm completely disloyal here. Same thing with drivers.”
At least Lyft is focused, and not committed to expensive, risky side projects like Uber, Damodaran noted.
Uber recently spent $3.1 billion to acquire Careem, a ride hailing business that serves passengers in the Middle East. Uber also spent money to set up a research and development division, Uber ATG, that is working on everything from self-driving car technology to air taxis.
By contrast, Lyft is primarily focused on maintaining and growing its marketshare in North America.
Damodaran said: “I'd take Lyft over Uber because Uber wants to be all things to all people. You'd think they'd learn from their mistakes. They tried in China and had to back out of China. I think being less ambitious in this business, until you figured out a business model, is better.”
Lyft's IPO kicked off a so-called “unicorn stampede,” or string of public market debuts expected this year from tech companies that have raised copious amounts of venture capital and are privately valued over $1 billion. Among those expected to go public later this year are Uber, which was privately valued at $72 billion last year; Pinterest, which is aiming to go public at a valuation of up to $9 billion; and Slack privately valued at $6.7 billion.
They should learn from Lyft's experience, and from predecessors like Snap, the business school professor suggested.
“You don't want to go up against Facebook and Google. Create a niche and be in it,” Damodaran said. “The mistake that Snap made, which Pinterest should not, is they thought they could be bigger than Facebook.”
Uber, Lyft and the challenge of transportation startup profits
Transit has always required subsidies — can Uber and Lyft escape history? Tracey Lindeman 13 hours How much does transportation cost you? In most cities, bus or subway fare might set you back $3 or so. A tank of gas, maybe $30 or $40 depending on your car. An hour of street parking? Sometimes it’s… Continue reading Uber, Lyft and the challenge of transportation startup profits
Friday Morning Auto News, Apr 05, 2019
Today’s issue of the Morning Auto News brought to you from Hong Kong ….
Fiat Chrysler settles 2016 suit over claims of phony US sales – Automotive News: Fiat Chrysler’s U.S. unit settled an antitrust lawsuit claiming the company pushed dealers to submit fraudulent sales numbers to prop up its share price.
Tokyo court rejects Ghosn appeal against 10-day detention – Reuters: The Tokyo District Court on Friday said it had rejected an appeal by Carlos Ghosn’s lawyers against the detention of the ousted Nissan Motor Co chairman for 10 days to question him regarding their latest accusations of financial misconduct.
Tilson: ‘This is the beginning of the end for Tesla’ – Yahoo: Tesla on Wednesday morning announced that it had only delivered 63000 vehicles to customers that quarter – a 31% drop from the previous quarter.
Here’s how Lyft is doing one week after its IPO – CNBC: Lyft’s first week as a publicly traded company had some twists and turns after positives sessions the last few days. The stock is now trading right at its …
Arrested, again: Why Ghosn has been detained, what is different now? – Reuters: Ousted Nissan boss Carlos Ghosn is back in the Tokyo detention center where he previously spent 108 days, after being released just last month on a $9 million …
What to expect after Elon Musk’s day in court – CNBC: Former SEC prosecutor Elliot Lutzker believes the agency won’t remove Musk as CEO, but he’ll face a fine significantly larger than $20 million.
London’s Ultra Low Emission Zone: what you need to know – Autocar: The first ULEZ is coming, and more cities will follow. If you drive in London, you need to know whether your car is affected London’s Ultra Low Emission Zone (ULEZ) will come into force on Monday 8 April, affecting hundreds of thousands of vehicles…
Ghosn’s Fate May Hang on Complex Financial Web in Middle East – Bloomberg: He built one of the industry’s biggest car alliances, which includes Renault and Mitsubishi Motors Corp. Until last year, he was a Davos Man business …
EU charges German carmakers with blocking emissions cleaning technology – Reuters: European Union antitrust regulators on Friday charged BMW, Daimler and Volkswagen with colluding to block the rollout of emissions cleaning technology in a move that could lead to hefty fines.
Volkswagen is testing level 4 autonomous driving in city center traffic – Yahoo: This is the first time that Volkswagen has conducted tests of such magnitude, using cars equipped with level 4 self-driving technology in urban areas.
2020 Karma Revero plug-in hybrid to use BMW engine – Autocar: Preview image shows the hybrid saloon will bear a close resemblance to the current model Re-engineered hybrid saloon will be fully unveiled in Shanghai and arrive in Europe next year The 2020 Karma Revero plug-in hybrid saloon will make use of a…
Ghosn faces 10 days in detention; lawyer to appeal – Automotive News: A Tokyo court approved a request by prosecutors to detain Carlos Ghosn for 10 days for further questioning, a move the ousted Nissan chief’s lawyer said he would appeal.
Uber adds one pound on journeys in London’s congestion charge zone – Reuters: Uber will add an additional pound to the cost of journeys in central London from next week after the city’s transport authority said private hire taxi operators will no longer be exempt from the congestion charge.
Fiat Chrysler’s retooling of Mack Engine would mean 700 temporary layoffs – Freep: If city and state officials greenlight Fiat Chrysler Automobiles’ plan to convert its Mack Avenue Engine factory in Detroit to an assembly plant, about 700 …
BMW, Daimler, Volkswagen charged by EU regulators with emissions collusion – Automotive News: EU antitrust regulators charged BMW, Daimler and Volkswagen Group on Friday for hindering competition on emissions-cleaning technology between 2006 and …
EU regulators charge BMW, Daimler, Volkswagen with emissions collusion – Reuters: EU antitrust regulators charged BMW, Daimler and Volkswagen on Friday for hindering competition on emission cleaning technology between 2006 to 2014.
Supercar brands using female advisory boards to tap the potential of women buyers – Yahoo: From Aston Martin to Lamborghini, top luxury car makers are investing in getting more women to buy their cars.
Russia sales rise nearly 2% in March on by gov’t subsidies – Automotive News: Russia car sales rose 1.8 percent last month to 160180, helped by the introduction of government subsidies in March for lower-priced vehicles, the Association …
Trump to Cap Week of Border Threats by Visiting Calexico Wall – Bloomberg: Supply chains are closely integrated between the two countries, particularly in the auto industry. Car makers and farmers, who have already been hit …
Brexit depresses car demand in UK as sales drop 3% in March – Automotive News: 3 Vauxhall saw volume rise 2.1 percent, ahead of sister brand Peugeot, which rose 1 percent, but behind sibling Citroen, which jumped 22 percent.
Western European car registrations down 3.7% in March – Automotive News: Western European car sales fell 3.7 percent in March as a recovery from emissions-test bottlenecks proved short-lived, LMC Automotive data showed.
Tokyo court approves 10-day detention of Ghosn that his lawyer will appeal – Reuters: A Tokyo court approved on Friday a request by prosecutors to detain Carlos Ghosn for 10 days for further questioning, a move the ousted Nissan boss’ lawyer said he would appeal.
Coalition modelling not far off Labor’s electric vehicle target – despite criticising it – Guardian: Government modelling for climate policy cuts assumes an electric vehicle uptake of 25-50% of new car sales by 2030. Lisa Cox. Fri 5 Apr 2019 01.43 …
Carlos Ghosn to Stay Behind Bars for at Least 10 Days – WSJ: TOKYO-Carlos Ghosn will be held in jail until at least April 14 without possibility of bail, a Tokyo court said Friday. The former chairman of Nissan …
Court Approves Request to Keep Ghosn Detained Until April 14 – Bloomberg: Carlos Ghosn will remain in jail until at least April 14 after a Japanese court granted prosecutors’ request to keep the former chairman of Nissan Motor Co. longer …
Canadian AI company shapes supply chain – Automotive News: As automakers race to develop self-driving vehicles, they look to companies such as … are spending a lot of their AI resources on autonomous driving.
Austria’s AI Brain Has a Plan to Take Down Waymo and Tesla – Bloomberg: Silicon Valley has an early lead in driverless cars, but a collaborative effort across Europe wants to close the gap.
Detroit partners with Maven in first step to support car-sharing – Detroitnews: Patty Fedewa hasn’t owned her own car since January 2009, but she typically needs one to pick up her 11-year-old daughter from a private …
Morgan Stanley Wins Stabilization Role for Uber IPO – Bloomberg: Morgan Stanley will take on the profitable job of overseeing Uber Technologies Inc.’s stock in the early hours of trading after the global ride-hailing …
Elon Musk says he’s ‘very happy’ after judge orders settlement negotiations with SEC – Yahoo: Tesla (TSLA) CEO Elon Musk emerged from a Manhattan federal district courtroom Thursday afternoon with a renewed opportunity to resolve a …
Google to pull plug on AI ethics council – Reuters: Alphabet Inc’s Google said on Thursday it was dissolving a council it had formed a week earlier to consider ethical issues around artificial intelligence and other emerging technologies.
Google Scraps New AI Ethics Council After Outcry – Bloomberg: The Alphabet Inc. company introduced the group, called the Advanced Technology External Advisory Council (ATEAC), on March 26. Google asked …
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The uncertain future of shared electric scooters
Cities all over the world have seen an influx of two-wheeled, electric kick scooters on the road over the last couple of years. Scooters from the likes of Bird, Lime, Spin, Uber’s JUMP, Lyft and others are all trying to own the first and the last mile. The first mile is often understood as the… Continue reading The uncertain future of shared electric scooters
Tuesday Morning Auto News, Apr 02, 2019
Lyft Stock Drops Again, Dow Is a Buy, and More to Know for Tuesday – Barrons: Mergers & Acquisitions: Jefferies analyst Philippe Houchois wrote Tuesday he believes a Peugeot (UG.France) and Fiat Chrysler Automobiles (FCAU) …
Why buying a car may result in a scary (and pointless) ‘adverse action notice’ – Latimes: it’s something consumers want to avoid at all costs, typically indicating you’ve been turned down for a loan or there’s …
New Ford Kuga SUV to be revealed later today – Autocar: Third-generation Kuga will be a vital part of Ford’s revised European product plan Ford is preparing to pull the wraps off its third-generation Kuga later today ahead of the family SUV’s launch towards the end of this year. Teased in a video posted to…
Lyft shares fall again as analyst says buying the IPO here is ‘leap of faith’ – CNBC: Shares of Lyft fell for a second straight day after an analyst raised concern over the ride-hailing company’s valuation.
Turkish March automotive sales slide 35.5 pct – association – Reuters: Sales of passenger cars and light commercial vehicles in Turkey tumbled 35.5 percent year-on-year in March to 49,221 …
BMW, Microsoft launch industrial cloud tech partnership – Automotive News: BMW Group and Microsoft Inc. on Tuesday launched an initiative to create an Open Manufacturing Platform that seeks to stimulate innovation and accelerate the development of “smart” factories.
Walgreens cuts 2019 profit growth forecast after Q2 miss, shares fall – Reuters: Walgreens Boots Alliance Inc on Tuesday cut its 2019 profit growth forecast and reported quarterly profit that missed Wall Street estimates as the drugstore chain struggles with falling prices of generic alternatives to branded drugs, sending its…
Why some green investors are passing on Uber and Lyft – Reuters: Some environmentally … early indications that ride-hailing technology puts more, not fewer, cars on the …
Trade slowed in fourth-quarter, WTO says; auto tariffs, Brexit are 2019 risks – Reuters: World trade shrank by 0.3 percent in the fourth quarter of 2018 and is likely to grow by 2.6 percent this year, slower than 3.0 percent growth in 2018 and below a previous forecast of 3.7 percent, the World Trade Organization said on Tuesday.
FCA will play active role in industry change, Elkann says – Automotive News: Fiat Chrysler Chairman John Elkann says the automaker will be an active player in shaping an industry under transformation from technology including electrification and self-driving cars.
Ford Europe spending tens of millions on Brexit – chairman – Reuters: Ford is already spending tens of millions of euros to prepare for the possibility Britain could leave the European Union without a trade deal in place, Ford Europe chairman Steven Armstrong said on Tuesday.
DealBook Briefing: Lyft Crashes Back to Reality – New York Times: That was fast: On their second day of trading yesterday, shares in Lyft fell 12 percent, to $69.01, below their I.P.O. price. That darkens the outlook for …
Microsoft and BMW launch open manufacturing platform – Reuters: Microsoft Corp and BMW Group on Tuesday launched an initiative to create an Open Manufacturing Platform that seeks to stimulate industrial innovation and speed the development of connected ‘smart’ factories.
Merkel: We need to switch to electric or hydrogen-powered fuel-cell cars – Reuters: Chancellor Angela Merkel said on Tuesday that Germany needed to make radical changes in the vehicle sector by switching to electric or hydrogen-powered fuel-cell cars.
Jaguar Land Rover loses court battle with Twisted Automotive – Autocar: Autocar
All-new Rolls-Royce Ghost to take fight to Bentley in 2020 – Autocar: Rolls-Royce’s smallest model will move to a new generation next year, with spyshots revealing an evolutionary design The overhauling of Rolls-Royce”s range will continue early next year with a new generation of the Ghost luxury saloon. The…
Car sales hit the brakes – Autocar:
Daimler CEO: Boeing safety debate highlights challenge for autonomous tech – Reuters: Daimler Chief Executive Dieter Zetsche on Tuesday said the debate surrounding the safety of Boeing’s aircraft shows how hard it can be to win public acceptance for autonomous cars technology.
Thyssenkrupp and Tata Offer Remedies to Win EU Deal Approval – Bloomberg: The companies are prepared to sell part of car body sheet production, … Only four European companies currently provide steel to the auto industry: …
German new car registrations fell by 0.5 percent in March – Reuters: German new car registrations fell by 0.5 percent to around 345,500 in March, a person familiar with the numbers told …
Japan-US trade talks likely to be held April 15-16 – Reuters: Japanese government officials are increasingly worried that Trump will demand a reduction in the number of Japanese auto imports to lower the trade …
Lawyer for ousted Nissan boss Ghosn says hasn’t discussed Oman issue with him – Reuters: The defense lawyer for ousted Nissan Motor Chairman Carlos Ghosn said on Tuesday he had not discussed with Ghosn a report that Nissan’s alliance partner Renault had alerted French prosecutors about payments to an Omani distributor.
Singapore Airlines grounds two 787-10s after inspections of Rolls-Royce Trent 1000 TEN engines – Reuters: Singapore Airlines Ltd said on Tuesday it had grounded two Boeing Co 787-10 jets fitted with Rolls-Royce Holdings PLC Trent 1000 TEN engines after checks of its fleet found premature blade deterioration.
Ghosn’s lawyer doesn’t rule out possibility of additional charges in Japan – Reuters: Three sources told Reuters on Monday that Nissan’s alliance partner, Renault SA, had alerted French prosecutors to payments made to a …
Schumacher begins maiden Ferrari F1 test in Bahrain – Yahoo: … wheel of Alfa Romeo’s C38 on Wednesday. It is the first serious F1 experience for the reigning European Formula 3 champion and Formula 2 rookie, …
Ghosn would not get fair trial if tried alongside former employer Nissan, lawyer says – Reuters: Ousted Nissan boss Carlos Ghosn would not get a fair trial by a Tokyo court if he were tried alongside his former employer, a lawyer for Ghosn said on Tuesday, …
Google South East Asia and India VP to leave at end-April – Reuters: Alphabet Inc’s Google South East Asia and India Vice-President Rajan Anandan will leave the firm at the end of April, Google Asia Pacific President Scott Beaumont said on Tuesday.
Exor’s Elkann says commitment to Fiat Chrysler unchanged – Reuters: The chairman of Exor John Elkann said the Italian holding group’s commitment to carmaker Fiat Chrysler remained unchanged.
Ghosn’s lawyers say his trial must be separate from Nissan’s to ensure fairness – Reuters: Lawyers for Carlos Ghosn asked a Tokyo court on Tuesday to try the ex-Nissan Motor Co boss separately from his former employer …
Ghosn’s lawyers ask court for trial separate from Nissan and former director Kelly – Reuters: Lawyers for former Nissan Motor Chairman Carlos Ghosn on Tuesday said they had asked that their client stand trial for alleged financial wrongdoing separately from Nissan because the company is helping prosecutors.
Europe’s answer to Uber expands into the electric scooter scene in Madrid – CNBC: Bolt, formerly known as Taxify, is launching its electric kick scooter-sharing service in Madrid.
Complaints About Hyundais and Kias Catching Fire Prompt U.S. Probe – Yahoo: NHTSA tallied more than 3000 complaints about the Hyundai and Kia vehicles that drivers lodged with the agency or the manufacturer, according to memos …
Roush’s next power play? Self-driving weeders – Detroitnews: The Livonia company best known for high-performance Mustangs and F-150s partners with a Silicon Valley start-up for autonomous farm equipment.
Trending: Can the SEC hold Elon Musk in contempt of court for his Harambe song? – Washington Post: @rachel_pick, roasting the Tesla CEO’s surprise rap single “RIP Harambe,” an ode to the gorilla killed at the Cincinnati Zoo in 2016, that was released …
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Lyft pops 21% on its first day of trading on Nasdaq after raising $2.2B in its IPO at a $24B valuation
Ride-hailing startup Lyft may bear the distinction of having highest net loss of any maiden public company ever going public, but despite that, it made its debut in a high gear this morning. Trading as LYFT on Nasdaq, the company’s shares opened at nearly noon today at just under $87/share, a pop of 21 percent on… Continue reading Lyft pops 21% on its first day of trading on Nasdaq after raising $2.2B in its IPO at a $24B valuation
Monday Morning Auto News, Apr 01, 2019
Tesla boom lifts Norway’s electric car sales to 58 percent market share – Reuters: IndiaAlmost 60 percent of all new cars sold in Norway in March were fully electric, the Norwegian Road Federation (NRF) said on Monday, a global record set by a …
New Alfa Romeo GTV: 2022 hybrid super-coupe leaks – Autocar: Styling of upcoming hybrid two-door seemingly revealed well ahead of official unveiling A leaked image may have given us our best look yet at Alfa Romeo”s forthcoming GTV coupe, which isn”t due to be unveiled until 2021. The single image, purportedly…
Maruti Suzuki sales continue to fall as India car demand slows ahead of elections – Nikkei: Maruti Suzuki India’s sales continued to decline as demand for cars slowed further in March, piling up inventory and forcing …
Buying Lyft stock requires making ‘too many big assumptions,’ analyst warns amid IPO hype – CNBC: Guggenheim restrained its enthusiasm for shares of Lyft on Monday, beginning coverage of the rideshare company’s stock with a neutral rating due to what the firm sees as a hazy outlook.
Volvo XC40 full-electric variant to debut this year – Automotive News: Volvo will reveal the full-electric version of the XC40 before the end of the year. The XC40 will be the first battery-driven model from the brand.
Here’s what Uber can learn from Lyft’s IPO – CNBC: Triton Research co-founder and CEO Rett Wallace joins “Squawk Box” along with guest host Mohamed El-Erian, chief economic advisor at Allianz, …
Uber of Iran Hits Two Million Rides-a-Day Mark Amid Growth Spurt – Bloomberg: Snapp, also known as the Uber of Iran, said its ride-hailing app is generating two million fares a day as young people in Tehran embrace technology …
Skoda, Hyundai, Dacia among winners as French sales fall 2% in March – Automotive News: French new-car sales fell by 2.3 percent in March, with Skoda, Hyundai, Dacia and Seat recording double-digit increases.
For want of a quorum, America’s jobs are being lost – CNBC: … CRRC, China Mobile, SAIC Motor, China Railway, China Aerospace Science and Technology, the list of China’s national champions spans virtually …
Analysis: how to save the city car – Autocar: Cars like the Citroen C1 and Volkswagen Up are under threat Value small cars are at risk of extinction. Profits are slimming, costs are rising. Is there a solution? The message was as bleak as it was clear. “If Europe is pursuing this legal target,…
Hyundai Venue SUV: Launch, features, expected price revealed – Yahoo: Right, Hyundai Venue, I know the name, some more info please? This is a new sub-4m compact SUV by Hyundai and the much awaited rival to the …
Peugeot, Fiat Said to Explore Venture to Build Cars in Europe – Bloomberg: PSA Group and Fiat Chrysler are reportedly exploring a partnership to build cars in Europe. Bloomberg has learned the companies are holding …
The Auto Industry Is Overdue a Bout of Mega-Mergers – Bloomberg: It’s not clear that this necessary process can easily happen. As we’ve seen with the Renault-Nissan saga, the Trump administration’s automotive tariff …
VW, BMW, FCA, others make changes to protect profits in China – Automotive News: “The total market is cooling down, but the premium market is cooling down less,” Audi CEO Bram Schot told Automotive News Europe. “What’s more …
BUZZ-India’s Tata Motors rises; JLR confirms expectations of better Q4 results – Reuters: Automaker Tata Motors Ltd’s shares rise as much as 6.3 pct to 185.2 rupees, in their biggest intraday pct gain since March 5.
Toyota robot can’t slam dunk but shoots a mean 3-pointer – Washington Post: It can’t dribble, let alone slam dunk, but Toyota’s robot hardly ever misses a free throw or a three-pointer.
General Motors seeks dismissal of union lawsuit on closures – Washington Post: Attorneys for General Motors have asked a federal judge to dismiss a lawsuit claiming the automaker sidestepped an agreement with union workers through its …
Toyota robot can’t slam dunk but throws a mean three-pointer – Washington Post: It can’t dribble, let alone slam dunk, but Toyota’s robot hardly ever misses a free throw or a three-pointer.
In North America’s Biggest Uber Holdout, It Pays to Know Chinese – Bloomberg: Welcome to Vancouver, one of Uber’s most obstinate holdouts — the largest North American metro region without legal ride sharing, where …
Italy Seen Needing Energy Storage to Deliver on Pollution Pledge – Bloomberg: … cars might help balance the grid, since the batteries in those vehicles might … the executive said in an interview at Bloomberg’s European headquarters in London. “Today in Italy, we have a limited number of electric vehicles. … a battery is a…
French interest in Jeep: Deja vu? – Automotive News: Last week’s French drama, in which PSA Group and Renault-Nissan were said in dueling media reports to both be interested in a bid for Fiat Chrysler …
Merger buzz rings with irony – Automotive News: And how odd that with both Fiat Chrysler CEO Sergio Marchionne and former Renault-Nissan Chairman Carlos Ghosn gone, their companies find …
What a truck”s off-road package really gets you – Detroitnews: Are off-road packages worth the money?
GM brushed off UAW concessions to idle Lordstown plant – Detroitnews: Union workers are angry they agreed to make $118 million in annual concessions to save the plant in mid 2017.
Convicted Fiat Chrysler exec raises questions about former UAW boss – Detroitnews: Retired UAW President Dennis Williams could be questioned about alleged illegal payments amid corruption scandal involving Fiat Chrysler.
Jettisoned Chrysler dealers challenge U.S. in court – Automotive News: Almost 300 of the Chrysler dealers whose franchises were terminated in the 2009 bailout will continue their fight in Washington on April 8, nine years after they sued the U.S. Treasury.
U.S. sales drop with no reason for buying – Automotive News: “Consumers simply haven’t had a compelling reason to buy,” Cox Automotive’s chief economist said.
Sun plays tricks on Cadillac’s Super Cruise – Automotive News: The issue involves a critical part of the system that monitors the driver’s attentiveness.
Toyota’s Lentz: U.S. has a lot to lose in trade fight – Automotive News: If the U.S. and Japan can’t find common ground, tariffs could knock down 2 million new-vehicle sales as quick as a Texas windstorm, the automaker’s North America chief warned.
JLR wins a rare challenge against Chinese copycat Landwind – Automotive News: A Chinese court ruled recently that Jiangling Motors’ LandwindX7 SUV from 2014 was too similar to Range Rover Evoque. In a rare decision, it ordered the …
Survey finds flagging loyalty in the pickup truck market – Automotive News: What does it take to get a truck owner to switch brands?
Cadillac’s next-gen Super Cruise system to address camera’s sunlight issue – Automotive News: The issue involves a critical part of the system that monitors the driver’s attentiveness.
Rakuten says to book $990 million gain on Lyft investment – Reuters: Japan’s Rakuten said on Monday it will book a 110 million yen ($989.74 million) gain in the quarter through March on its investment in Lyft following the U.S. ride-hailing firm’s listing last week.
GRAINS-Corn ticks up after deep cuts; abundant supplies cap gains – Reuters: China’s State Council said on Sunday that the country would continue to suspend additional tariffs on U.S. vehicles and auto parts after April 1, in a …
Porsche looking at subscription model for special models? – Autocar:
Nissan CEO, Ghosn Mulled Fourth Partner for Alliance, Email Says – Bloomberg: Last September, two months before his arrest in Tokyo, then Nissan Motor Co. Chairman Carlos Ghosn and the carmaker’s chief executive officer considered …
Rakuten to book $990m profit from Lyft IPO – Nikkei: … ($990 million) profit in its first-quarter earnings from a jump in the value of its stake in Lyft, after the U.S. ride-hailing company went public on Friday.
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Lyft IPO Values Company at $24.3B
With Lyft going public, all eyes turn to Uber, which is expected to have its IPO on April. Photo via Lyft. Lyft became the first ride-hailing startup to go public, with its Thursday initial public offering valuing the company at $24.3 billion, Reuters reports. Lyft’s stock began trading on the Nasdaq today under the ticker… Continue reading Lyft IPO Values Company at $24.3B