Lucid plans to adjust production, citing elevated vehicle inventories
CNBC • • business
Key Points:
- Lucid Group plans to adjust production to better match customer demand and reduce its elevated vehicle inventory, though it currently has no plans to idle its Arizona plant.
- The company has produced about 3,200 more vehicles than it sold since 2024, contributing to higher inventory levels.
- In Q1 2026, Lucid produced 5,500 vehicles but delivered only 3,093, with a seat supplier issue notably impacting deliveries of its Lucid Gravity SUV.
- Lucid’s Q1 financial results showed a loss per share of $3.46 and revenue of $282.5 million, missing Wall Street expectations significantly despite a 20% year-over-year revenue increase.
- Despite challenges, Lucid reported a 144% increase in North America order intake from February to March, indicating growing demand for its electric vehicles.
