Lucid Q1 deliveries rise 58% on higher factory incentives

Automotive News
04-04
Lucid launched the Gravity crossover in December 2024 but customer deliveries were small in the first quarter.

Lucid Motors reported a first-quarter sales gain of 58 percent compared with the same period last year on higher factory incentives per vehicle.

The Newark, Calif., automaker delivered 3,109 vehicles in the first quarter compared with 1,967 vehicles a year earlier, the company said April 2. First-quarter sales marked six consecutive quarters of record deliveries, it said.

Lucid boosted its factory incentives in the quarter to an average of $12,877 per vehicle from $10,266 per vehicle in the year-earlier period, according to estimates from data and analysis firm Motor Intelligence.

The EV maker did not break down sales by model. Lucid launched the Air sedan in late 2021 and the Gravity crossover in December 2024.

Motor Intelligence estimated Lucid sold 135 Gravity crossovers in the first quarter. Lucid said earlier this year it was focused on making Gravitys for showrooms and test drives.

Sign up for the weekly Automotive News Mobility Report newsletter for the latest developments at the intersection of transportation and technology.

Production at the company’s Casa Grande, Ariz., factory rose 28 percent in the first quarter compared with the same period last year to 2,212 vehicles, Lucid said.

Separately, Lucid said 600 vehicles were in transit to Saudi Arabia for final assembly and sale in the Middle East. Lucid is majority owned by Saudi Arabia’s Public Investment Fund and is building a production plant there.

Lucid also announced a proposed convertible senior notes offering of $1 billion.

The automaker said it will report first-quarter financial results and hold an earnings call May 6.

Send us a letter to the editor

Have an opinion about this story? Tell us about it and we may publish it in print.  Click here to submit a letter to the editor.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10