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Lucid Motors reported second-quarter deliveries above analysts' estimates on Monday, as price cuts bolstered demand for its luxury electric sedans, sending the company's shares up about 6% in premarket trading. High borrowing costs, economic uncertainties and consumer preference for gasoline electric hybrids have weighed on demand for EVs. EV market leader Tesla and others including Lucid have responded to slowing demand by slashing prices and offering greater incentives such as cheaper financing options to lure consumers. #Lucid #electriccars #electricvehicles #Tesla https://lnkd.in/ghy6q_D2

Lucid Motors Accelerates into Record-Breaking Quarter 🚗⬇️ 📈 Lucid Motors delivered a record 2,394 EVs in Q2 2024, up from 1,967 in Q1. This surge reflects the company’s strategic efforts to attract more buyers by reducing prices on its luxury sedans. 💰 The Lucid Air, previously priced near $100,000, now starts at $69,900. CEO Peter Rawlinson expressed optimism, citing growing sales momentum and consumer interest. 🚙 Lucid is gearing up to start production of its Gravity SUV by year-end, aiming to capture a larger share of the U.S. market. 📊 Despite high borrowing costs and economic uncertainties, EV demand is rising. Lucid’s recent success mirrors trends seen in Rivian and Tesla, with the company well-positioned to meet its 2024 target of 9,000 units. 💬 While Lucid’s price cuts appear successful, it’s worth noting that price wars don’t always guarantee increased sales. The EV market requires a balance of affordability, innovation, and brand value to sustain growth! #EV #Sales Credits: ABC News

Lucid Motors delivered 1967 cars in Q1 - RECORD DELIVERIES? Previous delivery record of 1,932 units in Q4 2022. YES 2022, over a year ago. So much for scaling your business, despite recent headwinds in the BEV segment. Rivian has done it. WOW....this doesn't sound like much progress. "The automaker said it remains on track to produce approximately 9,000 BEVs in 2024. For comparison, Lucid Motors built 8,428 EVs in 2023." Cash burn remains massive. We have seen ONE on the road in the Greater Toronto Area. We live in an area where are Tesla's everywhere. Three "studios" in Canada....Toronto, Vancouver, Montreal. Time to rethink the distribution network (dealers). Introducing the Gravity SUV by end of 2024 (bet ya not), Lucid claims it will be the BEST SUV in the industry. They made the same claim about the AIR sedan. FYI....they have cars AVAILABLE NOW on their website. The following quote from Peter Rawlinson...be VERY thankful for the deep pockets of the Saudi PIF. "I believe there are two factors that set Lucid apart – our superior, in-house technology and the partnership with the PIF. Our sales momentum is building, our focus upon cost remains relentless, and we believe Gravity is on track to become the best SUV in the world." Sales momentum building.....best SUV in the world?? Rivian, Mercedes-Benz AG, BMW Group, Lexus, Land Rover, Porsche AG #automotive #automotiveindustry #sales #innovation #ecommerce #branding #ai #ev #electricvehicles #technology #business #leadership #disruptor

Demand for electric vehicles grew slower than expected in the past year due to high borrowing costs, economic uncertainties, and consumer preference for hybrid alternatives. Automakers responded by slashing prices and offering incentives, like cheaper financing, to attract customers. In the case of Lucid Motors, this strategy proved effective, exceeding delivery forecasts in the first quarter of 2024 with 1,967 vehicles delivered. However, production fell to 1,728 vehicles, below the estimated 2,123 and significantly less than the previous quarter's 2,391. Despite these challenges, Lucid enjoys the confidence of its largest shareholder, the Public Investment Fund of Saudi Arabia, which injected $1 billion into the company. It is also worth noting that Lucid Motors' stock value is recovering from its mid-May slump. 👉 Thanks to price cuts, the cheapest Lucid Air Pure model now costs $69,900. We won't hide that we strongly support our friends at Lucid 🤜💥🤛 and are thrilled that this manufacturer is overcoming difficulties. It is a brand that has a lot to offer both its customers and the entire automotive industry. From our own experience, we know how much passion, commitment, and genuine love for engineering have been poured into every element of Lucid's products!

In November 2021, the EV automaker Lucid Group, Inc. (LCID) saw its stock reach its high of $52.98. Since then, it has been on a steady decline, plummeting by 95% to its current trading price of $3.28.   ❓What is Lucid? Lucid is an automotive company specializing in luxury-class Electric Vehicles (EVs).   ❓Why was it doing so well? In 2021, the company began delivering cars, and the demand for its premium-class electric vehicles surged.   ❓How did it perform in 2023? Lucid Motors manufactured 8,428 vehicles and delivered 6,001 in 2023, falling short of its initial production estimates of 12,000 vehicles. However, its net losses over the last three quarters exceeded $2 billion due to high cash burn rates.   ❓Is a Lucid stock reversal possible? Lucid Motors remains a high-risk, high-reward asset. To regain investor interest, it needs to ramp up production and deliveries while improving profit margins.   For traders seeking potential opportunities in the market, consider exploring the diverse range of stock CFD options available globally on the TradeEU Global platform.   ……… Your capital might be at risk FSC license: GB21026906 ………   #tradeeu #cfds #bigtech #earningsreport #stockmarket #dowjones #dowjonesindustrialaverage #stocks #lucid #stocktrading #electricvehicles #electricvehicle #tradingview #tradingsignals #tradingstocks #tradingcommunity #tradingtips #tradinglifestyle #tradingeducation #tradingonline #tradingplan #tradingplatform #traderlife #nasdaq100 #nasdaqsignals #nasdaqtrading #sp500 #sp500trading #indices #stockcharts

Corporate Tracker report for @Lucid Group : Lucid Group's Q3 2024 results paint a picture of a company navigating both challenges and opportunities in the competitive EV market. With a 45.2% year-over-year revenue growth to $200 million and a 91% increase in vehicle deliveries, Lucid demonstrates strong momentum. The company's focus on high-margin luxury EVs and ongoing product development, including the upcoming Lucid Gravity SUV, positions it well for future growth. However, Lucid faces persistent profitability challenges, with an adjusted EBITDA loss of $613.1 million. The company must balance its smaller scale against industry giants while managing high operating expenses. As global EV demand grows, Lucid has opportunities to expand into new markets and leverage technological advancements. Yet, it must navigate intense competition, potential supply chain disruptions, and economic volatility that could impact luxury vehicle sales. Lucid's ability to innovate, manage costs, and capitalize on market trends will be crucial in determining its long-term success in the evolving EV landscape.

Lucid (LCID) beats Q2 delivery goal after a record quarter Luxury EV maker Lucid (LCID) is trending after beating Q2 expectations and setting a new delivery record. The news is sending Lucid shares higher on Monday. Lucid sets new Q2 delivery record as momentum swings Lucid delivered 2,394 vehicles in the second quarter, up 22% from Q1, as the EV maker gains momentum. After setting https://lnkd.in/gZNvVD23

💰 Lucid Motors announced yesterday that it expects third-quarter revenue to range between $199 million and $200 million, slightly below the $200.6 million reported in the second quarter, despite delivering 387 more vehicles than the prior quarter, setting a new record of 2,781 deliveries. After rolling out significant promotions globally and launching sales of (lower-priced) demo vehicles in the U.S., Lucid saw its average selling price drop by nearly 15% from the second quarter, landing at approximately $71,500 — according to Morgan Stanley analysts. ✍️ Story by Cláudio Afonso https://lnkd.in/dAAQrwqA #Lucid #ElectricVehicles #Automotive

[NEWS] Lucid is betting big on its new Gravity SUV: And with a 440-mile range and 200 miles of charge in just 15 minutes — this model brings a lot to the table. But the stakes are high for this launch. While brand sales jumped 91% in Q3, Lucid’s stock has fallen 40% this year. And the company still relies on Saudi Arabia’s Public Investment Fund to keep cash flowing. Bottom line: Consumer appetite for the Gravity could define Lucid’s next chapter — or stall it. Read today’s top automotive stories, presented by Auto Hauler Exchange: https://lnkd.in/gQmZGi2A (Data source: Lucid Motors / CNBC)

***Lucid Motors Defies Economic Headwinds with Impressive Q2 Performance*** -In a remarkable display of resilience and market appeal, Lucid Motors has posted impressive Q2 delivery numbers for its luxury electric vehicles: 21% quarter-over-quarter increase (2,394 vs 1,967) 70% year-over-year growth (2,394 vs 1,404) These results are particularly impressive given the challenging economic climate, where many automakers struggle to maintain sales, let alone achieve significant growth. Lucid's success underscores the enduring demand for high-end, premium electric vehicles, even in turbulent times. Key Takeaways: -Luxury market strength: Lucid's vehicles, with their premium price tags, continue to attract discerning buyers. -Growing brand appeal: Significant YoY growth indicates increasing consumer confidence in Lucid's offerings. -Expansion plans: Opening reservations in Europe signals confidence in global market potential. -Lucid's ability to weather the economic storm and thrive in it speaks volumes about the quality and desirability of their luxury electric vehicles. As the company prepares to discuss its financial results on August 5, 2024, all eyes will be on this rising star in the automotive world. #automotivenews #manufacturingengineering #automotiveengineering #electricvehicles #ev #lucidmotors