Lucid Air
Lucid Group, the maker of the Lucid Air electric sedan, has announced its production and delivery figures for Q1 of 2023, which ended on March 31, 2023.
The company produced 2,314 vehicles and delivered 1,406 during the quarter, according to a press release on Thursday afternoon.
Compared to Q1 2022, Lucid delivered 360 vehicles. So Q1 2023 is an increase of 291% in deliveries. But still, Lucid is struggling hard.
In the original Lucid Motor SPAC presentation from 2021, the company projected it would be delivering 49,000 cars annually for 2023. Things are not looking anywhere near that forecast at this point.
Stopping in 40+ cities across the country, the 2023 #DreamAheadTour kicks off today in Florida. Swing by @Barrett_Jackson Palm Beach this weekend to experience and drive the #LucidAir.
Discover each stop: https://t.co/N7HZ8S1UWP pic.twitter.com/yI9MWVUPa9
— Lucid Motors (@LucidMotors) April 13, 2023
Today Lucid also announced its Dream Ahead Tour. “Stopping in 40+ cities across the country, the 2023 #DreamAheadTour kicks off today in Florida. Swing by @Barrett_Jackson Palm Beach this weekend to experience and drive the #LucidAir.”
Lucid will also host a conference call on May 8th to discuss its Q1 2023 financial results.
Glad I have no money in Lucid stock. I doubt they will make it.
Will the media jump all over these results the way they did with Tesla’s “over-production/under-deliveries”? Tesla had 4% of their production in transport while Lucid seems to have lost about 40% of theirs. That would be a 10x difference.