plunges

Figures released by the AEB in Moscow show that the Russian light vehicle market (cars and LCVs) in March plunged by 78.5% to just 32,706 units sold. The sharp decline follows a drop of 62.9% in March (55,129 units sold). Unlike the usual practice, the AEB press release containing the data was notably devoid of any comment on the data or market trend from a member of the AEB Automobile Manufacturers’ Committee. On an annualised…

A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated Wednesday, briefly sending its price to less than a quarter of that value.TerraUSD traded as low as 23 cents Wednesday, according to data from CoinDesk. As of 6:48 a.m. ET, it had rebounded partially to about 47 cents in volatile trading. A stablecoin, this breed of cryptocurrencies had gained favor among traders for being the one part of the crypto universe that was known for its stability. While the most popular stablecoins maintain their…

Lyft President John Zimmer (R) and CEO Logan Green speak as Lyft lists on the Nasdaq at an IPO event in Los Angeles March 29, 2019.Mike Blake | ReutersLyft shares plunged 29.9% Wednesday as investors expect short-term headwinds to weigh on the company.Lyft reported better-than-expected results on both the top and bottom lines after the bell on Tuesday. But the company provided light guidance for the second quarter and said it would have to keep spending on driver incentives due to surging gas prices, sending shares…

AAM's sales in the first quarter of 2022 were $1.44 billion versus $1.43 billion in Q1 2021. Sales were hit by the semiconductor chip shortage and there were also metal cost rises and a foreign exchange hit. Net income of $1.0 million, or $0.01 a share, compared with $38.6 million, or $0.33 a share. Full year revised 2022 financial targets are sales in the range of $5.6 - $5.8 billion and adjusted EBITDA of $785 million - $830 million based on North American light vehicle production of 14.3 million - 14.7…