Lucid’s (LCID) inventory is trending on Monday after the EV maker reported report deliveries for the fourth instantly quarter. Manufacturing additionally picked up in This autumn, pushing Lucid over its 2024 goal.
Lucid This autumn and full-year 2024 EV manufacturing and deliveries
Lucid constructed some other 3,386 cars at its production plant in Casa Grande, Arizona, within the fourth quarter, representing over 40% expansion in comparison to This autumn 2023.
The upper output used to be sufficient for Lucid to satisfy its 2024 manufacturing purpose of 9,000 cars, construction a complete of 9,029 EVs for the yr. This displays a 7% building up from 2023.
Lucid delivered 3,099 cars in This autumn 2024, marking its fourth quarter with report EV deliveries. The corporate stated round 7% of which have been rentals. For the whole yr, Lucid delivered 10,241 cars in 2024, up 70% from the 6,001 EVs passed over in 2023. Of them, round 5% had been rentals.
Like many carmakers, Lucid is providing vital incentives and reductions to force expansion. A number of 2025 Lucid Air fashions are to be had with as much as $12,500 in financial savings this month.
This autumn 2022Q1 2023Q2 2023Q3 2023Full-year 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Full-year 2024Lucid EV deliveries via quarter1,9321,4061,4041,4576,0011,7341,9672,3942,7813,09910,241Lucid (LCID) EV deliveries via quarter via 2023 to 2024
Beginning at $69,900, the 2025 Lucid Air Natural sedan is considerably less expensive than the more or less $90,000 for a 2023 fashion.
Lucid is reducing prices with complex new tech, which CEO Peter Rawlinson claims remains to be years forward of the contest. With the 2025 Air Natural being the “Global’s most productive automotive,” the EV maker is backing up its claims.
Lucid Gravity SUV (left) and Air (proper) (Supply: Lucid)
With its first electrical SUV, the Gravity, hitting the marketplace, Lucid is predicted to peer much more expansion in 2025. In overdue 2026, the corporate will start construction its new mid-size platform, which can produce lower-cost electrical SUV and sedan fashions. Rawlinson stated the brand new mid-size EVs might be “proper within the center of Tesla Fashion 3, Fashion Y territory.”
Lucid inventory chart This autumn 2023 via This autumn 2024 (Supply: TradingView)
Lucid’s report quarter comes after Rivian (RIVN) additionally beat This autumn expectancies. With 51,579 EVs delivered in 2024, Rivian used to be inside its 50,500 to 52,000 goal.
The corporate will liberate its This autumn 2024 monetary effects on Tuesday, February 25, 2025, after the marketplace closes. Lucid’s inventory is trending after some other report quarter. Even supposing LCID proportion costs are up round 50% since its Q3 income in November, they’re nonetheless down 11% during the last 365 days.
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