Business Week in Review — Uber, Tesla, Lucid, Spirit, and Toyota

Benzinga reported Sunday that five major corporate stories dominated investor attention last week. The week stretched from a strong Uber quarter to a sobering Toyota profit warning, with sharp developments in between.

Uber Grows but Falls Just Short

Ride-share giant Uber Technologies delivered first-quarter revenue of $13.20 billion. That figure represents 14% year-over-year growth. However, it landed fractionally below Wall Street consensus estimates. Investors nonetheless viewed the result as broadly encouraging given ongoing macroeconomic pressures on consumer spending.

Tesla’s Rearview Camera Recall

Tesla Inc. issued a recall covering more than 218,000 vehicles across the United States. The issue centres on a delayed rearview camera image when drivers shift into reverse. Affected models include Model 3 units from 2017 and 2021 through 2023, Model Y vehicles from 2020 to 2023, and select premium Model S and X units from 2021 to 2023. Tesla addressed the fault through an over-the-air software update, avoiding a physical dealer recall.

Lucid Group Misses on Revenue and Losses

Electric vehicle maker Lucid Group reported Q1 revenue of $282.47 million, a 20% improvement year over year. Even so, that figure fell well short of the $440 million analysts had projected. The company’s adjusted loss per share of $2.82 also exceeded the estimated $2.64 loss. The dual miss sent Lucid shares lower in after-hours trading.

Spirit Airlines Draws Fan-Led Buyout Pledges

Bankrupt carrier Spirit Airlines attracted an unusual rescue bid this week. A community-led proposal modelled on the Green Bay Packers’ ownership structure has gathered roughly $88 million in pledges. Under the plan, fans and small investors would hold shares in a restructured Spirit, with entry requiring a minimum pledge of $45. The proposal remains unofficial but has generated meaningful public attention.

Toyota Flags $4.3 Billion Tariff Hit

Perhaps the week’s most consequential headline came from Toyota Motor Corp. The Japanese automaker forecast a 22% year-over-year decline in profit for its current fiscal year. Management attributed the shortfall primarily to US tariff exposure and the economic fallout from conflict in the Middle East. The combined drag is expected to reduce operating income by more than 3.8 trillion yen, equivalent to roughly $24 billion. The warning reinforced broader concerns about how tariff policy is reshaping the global auto industry.

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