Lucid increases production and deliveries

From January to March, Lucid had produced 1,728 electric cars and delivered 1,967 units. In other words, the carmaker increased production by 382 vehicles, or 22 per cent, compared to the start of the year. Compared to the second quarter of the previous year (2,173 vehicles), however, production fell by 2.9%.

On a positive note, Lucid can now reduce inventory and has delivered more vehicles than it produced in Q2 – for the second quarter in a row. Previously, the company had built more cars than it delivered for a long time, which led to a backlog of several thousand vehicles. What is not positive, however, is that Lucid was only able to boost sales with significant price reductions in some cases.

The company does not comment on anything beyond the pure production and delivery figures in the press release. The business figures for the second quarter will be presented on 5 August, when the management will also provide more details. However, it is already clear that Lucid still has to do better to achieve its current annual production target of 9,000 vehicles. In the first half of the year, Lucid produced 3,838 cars.