Lucid Motors delivered 3,309 vehicles in the second quarter, a 38% increase from the same period last year, but missed Wall Street expectations of 3,611 units.
The company’s pricier luxury electric vehicles (EVs) have seen softer demand as consumers opt for cheaper hybrid and gasoline-powered cars due to high interest rates. This trend is affecting other EV makers, with Tesla reporting a 13.5% decline in deliveries in the same quarter.
Lucid’s production numbers are also being impacted by the recent rise in vehicle prices due to high material costs and manufacturers’ efforts to reorganize supply chains. The company had initially predicted an 8-15% increase in overall costs, but still maintained its annual production target in May.
The success of Lucid’s Gravity SUV and upcoming mid-size car will be crucial in expanding the brand’s vehicle line and increasing market share. With a target price point of $50,000 for the new mid-size car, Lucid is looking to compete with established players in the luxury EV segment.
Source: https://www.cnbc.com/2025/07/02/ev-maker-lucid-misses-second-quarter-delivery-estimates-on-soft-demand.html