In a notable development for the electric vehicle industry, Lucid Motors has reported a significant uptick in its sales figures, delivering 3,309 vehicles in the second quarter. This marks a 6% increase compared to the previous quarter, setting a new record for the company.
Additionally, Lucid produced 3,863 vehicles during the same period, which is nearly 1,000 more than the previous quarter’s output. In the first quarter, the company manufactured 2,212 vehicles and shipped an extra 600 units to Saudi Arabia for final assembly, showcasing its expanding production capabilities.
These delivery and production statistics indicate that Lucid is not only maintaining its position in a fluctuating EV market but is also making strides forward. However, the company still faces a significant challenge in reaching its ambitious annual production target of 20,000 vehicles. With only 6,075 vehicles produced in the first half of the year, Lucid has a daunting task ahead to close the nearly 14,000-vehicle gap.
To achieve this goal, Lucid is focusing on ramping up production of its new all-electric Gravity SUV, which began production in December 2024. Initially, most of these vehicles were sold to employees, family, and friends, but the customer base is gradually shifting towards the general public.
Despite the growing interest from consumers, CEO Marc Winterhoff acknowledged in a June interview that production has been slower than anticipated. He attributed this delay to tariff pressures and a strong emphasis on quality control. Winterhoff, who took over from Peter Rawlinson earlier this year, has been proactive in addressing concerns about demand for the Gravity SUV.
During the Q1 earnings call in April, Winterhoff mentioned that the company faced a “modest supply chain bottleneck” that affected its production timeline. He reassured stakeholders that the focus remains on delivering a quality product rather than rushing to meet deadlines.
As the company moves forward, Winterhoff expressed optimism about resolving supply chain issues in the second quarter and is committed to meeting production goals for 2025.
While Lucid has not disclosed specific details regarding the breakdown of deliveries between its Air and Gravity models, a spokesperson indicated that more information would be available in the upcoming earnings report scheduled for August 5.
It remains uncertain whether the introduction of a new company car program and sales to rental fleets contributed to the positive Q2 figures. In the first quarter, Lucid sold approximately 300 vehicles to what it termed “rental companies,” as noted in its regulatory filing. A spokesperson clarified that most of these vehicles were actually sold to leasing companies and leased back to Lucid as part of a revamped company car initiative.