Lucid earnings: Stock slides as EV-maker misses on revenue
Lucid reported Q4 deliveries of 1,932 vehicles, missing estimates of 2,813. Last month Lucid announced it produced 3,493 vehicles for the quarter and 7,180 for the year, topping its forecast of 6,000-7,000 vehicles for the year, however that forecast had been slashed multiple times last year. Lucid’s original forecast for 2022 had them building 20,000 vehicles for the year.
Check out the latest episode of All-Things Fisker.
🌊 Ocean One #0469 | Night Drive | Black Abyss Plus | 22” F3b SlipStreams
This really bums me out. Lucid was by far my favorite EV maker. Their vehicles, engineering, everything was just gorgeous. Reminded me of a Luxury EV Koenigsegg like care maker. The cars are stunning in person.
*Edit - While it may be my favorite EV maker. No way I can afford a $200k car
However, Lucid is on full track to be bankrupt by the EoY. Even with their current targets they will likely not meet. Sad to say that Lucid is on its way out of business. Unless of course they get another huge infusion of cash, or are bought out completely by SA.
Looking rough either way
@grimtango Agree with all that. Also weird how they have what looks like many hundreds of Airs just parked sitting at their factory. Have to wonder what is up with that?
I notice a lot of LUCIDs have been sitting at their outlet near me since December. At first I thought it was software or build quality issues. But now I think they are having trouble converting deposits to large purchases. The sedan style is not that exciting for me. I wonder it they have misjudged the U.S. market for size/price point. The Saudis ordered a bunch and the owners do seem to love them.
Ocean One 4301 | Mariana | Maliblu | 22” F3b SlipStreams |
Lucid is a nice looking car. I wonder how much of that price is simply due to name and how much is actual cost of manufacturing. No doubt would get one in the 70-80 range but if I were a current buyer and researched the state of the company, I'd be nervous to buy as I'd feel support in the future would be 0 and then I'd have a 125k lawn ornament.
BP / Maliblu / F5
If you believe the article written, Saudi Arabia was going to buy the remaining shares of the company - Lucid's Fortunes Are Looking Up (caranddriver.com)
BP / Maliblu / F5
At this stage I'd be OK with a Lucid stock buyout as long as it was closer to $25/share, which isn't too likely.