Lucid Group adjusts vehicle production amid elevated inventories
Updated
Updated · CNBC · May 5
Lucid Group adjusts vehicle production amid elevated inventories
11 articles · Updated · CNBC · May 5
The EV maker said there is no plan to idle its Arizona plant, but it omitted prior guidance of 25,000-27,000 vehicles and reported first-quarter deliveries of 3,093 against production of 5,500.
Lucid posted a $3.46 per-share loss on $282.5 million revenue, both worse than LSEG estimates, while saying a seat supplier problem significantly hit deliveries of its Gravity SUV.
The company has produced about 3,200 more vehicles than it has sold since 2024, though it said North America order intake jumped 144% from February to March as EV interest improved.
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