Connected_MobilityConnected Mobility

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Author: Nicole Schlosser
Publication Date: Aug 16 2021
Pages: 12
Report Type: Insight, Word
Connected Mobility

Lyft’s Q2 Revenue Rise Still Short of Pre-Pandemic Levels, Triggering MaaS Shift

Report Summary:

While revenues came in significantly higher, North American ride-hailing company Lyft still lags progress it achieved in 2019. The company also saw a significant net loss and struggled with an insufficient number of drivers to meet demand as the pandemic temporarily faded, driving up fares and wait times.

As company management likely foresees the need to diversify due to a lack of long-term profitability in providing on-demand rides, fueled in part by the pandemic, Lyft is in the process of fashioning itself as a multi-modal mobility as a service (MaaS) solution provider with recent AV deals and more focus on micromobility, including the launch of a new ebike.

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