Lucid Group surpassed Q3 2024 vehicle delivery estimates, but faces challenges reaching the 2024 production target due to increasing competition.

Lucid Group exceeded expectations in Q3 2024, delivering 2,781 vehicles, surpassing the estimated 2,242 due to discounts and financing options. However, production fell to 1,805 vehicles from 2,110 the prior quarter. Despite a 90% year-over-year delivery increase, analysts anticipate challenges in achieving the 2024 production target of 9,000 units. The upcoming Gravity SUV aims to boost growth amid strong competition from Tesla and Rivian.

October 07, 2024
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