Through the second quarter of 2024, Lucid Group continued to extend electrical automobile gross sales, reaching a brand new report consequence, whereas manufacturing barely decreased.
In Q2, the corporate delivered 2,394 Lucid Air luxurious all-electric automobiles, 70% greater than a yr in the past and nearly 22% greater than within the report Q1 (1,967). This development signifies that the value reductions translated into extra orders.
Lucid Gravity on the horizon
At present, Lucid affords just one mannequin—the Air sedan—though, within the close to future, the corporate will launch the promising Gravity SUV. This can be crucial occasion for Lucid, which has to scale up its enterprise.
On the similar time, Lucid’s EV manufacturing amounted to 2,110 items. It is a comparatively secure degree, simply 3% decrease than a yr in the past. Apparently, manufacturing elevated in comparison with Q1 (1,728).
A very powerful factor for Lucid is that the automobile stock is slowly reducing. In Q2, the corporate delivered 284 extra automobiles than it produced. In Q1, the distinction was 239. Nevertheless, the amassed distinction between manufacturing and gross sales stays excessive at over 4,700 items or greater than half a yr of gross sales. As soon as the corporate focuses on the upcoming Lucid Gravity mannequin, the excess of Airs could be progressively unloaded.
Lucid Q2’2024 outcomes (YOY change):
Whole manufacturing: 2,110 (down 3%) Whole deliveries: 2,394 (up 71%)
Through the first half of the yr, Lucid delivered 4,361 electrical automobiles, 55% greater than a yr in the past. Nevertheless, the current consequence remains to be far behind the corporate’s authentic hopes of 20,000 items in 2022.
Lucid Q1-Q2’2024 outcomes (YOY change):
Whole manufacturing: 3,838 (down 14%) Whole deliveries: 4,361 (up 55%)
For reference, in 2023, Lucid produced 8,428 automobiles (up 17% yr over yr) and delivered 6,001 automobiles (up 37% yr over yr).
Cumulatively, Lucid delivered nearly 15,000 electrical automobiles, in comparison with effectively over an estimated 19,000 produced.
Lucid plans to host a convention name on Monday, August 5, 2024, to debate its second quarter 2024 monetary outcomes.
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2024 Lucid Air
We’ve connected the up-to-date Lucid Air pricing beneath. Some variations have greater than 400 miles of EPA driving vary, whereas the Lucid Air Grand Touring AWD with 19-inch wheels is rated at 519 miles.
*Lucid provides a Vacation spot charge (DST) of $1,500 and a Documentation charge of $75 to all its fashions ($1,575 whole).