Lucid Q1 2024 Sees 1,967 Deliveries, 40% Increase YoY

Lucid has revealed its production and delivery figures for the first quarter ended March 31, 2024. The company announced it produced 1,728 vehicles and achieved deliveries of 1,967 vehicles during the quarter.

This deliveries number beats Wall Street estimates and is far lower than the 2021 SPAC presentation where it said it was forecasted to be delivering 90,000 EVs annually in 2024. The company missed its revenue targets by 90% in 2023.

Compared to the year-ago quarter, this is an increase of 40%, up from 1,406 cars delivered.

The company will hold its Q1 earnings call on Monday, May 6, 2024, at 2:30 pm PT / 5:30 pm ET. The company plans to release an earnings press release prior to the call, which will include a link to the live webcast available on its investor relations website.

These numbers are good for Lucid but the company still remains unprofitable, while it only has its Lucid Air sedan available for customers. Let’s wait to see what its Q1 2024 earnings will be when they are announced next month.