Lucid delivered nearly 2,000 luxury electric sedans in the first quarter, helping to drive down inventory.Shareholders of Lucid Group (LCID 2.46%) haven't had much to cheer about over the past year. The stock of the luxury electric vehicle (EV) maker has plunged 65% in the last 12 months. But shares got a bump today after the company reported its first-quarter production and delivery results.Those figures appear to be more than what investors expected. Lucid stock jumped more than 6% on the news. As of 11:1 ...

Lucid Motors delivered more EVs in the first quarter of 2024 than it has in any other quarter, though it set the record by a very slim margin.The Saudi-backed, California-based electric vehicle company said Tuesday morning that it shipped 1,967 luxury sedans in the quarter. That’s just a few more than it shipped in the fourth quarter of 2022, when it set its previous record of 1,932 deliveries. The company said it built just 1,728 sedans in the first quarter, though, meaning it will need to boost production ...

NEWARK, Calif., April 9, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, America's most awarded new luxury vehicle1, today announced production and delivery totals for the quarter ended March 31, 2024. Lucid produced 1,728 vehicles and delivered 1,967 vehicles during this period.*   Lucid will host a conference call to discuss its first quarter 2024 financial results on Monday, May 6, 2024, at 2:30 pm PT / 5:30 pm ET. Prior to t ...

Lucid stock (NASDAQ:LCID) burst into the scene with its sleek, high performance luxury electric vehicles (EVs). The company’s initial promise and bold claims after its IPO in 2021 garnered significant investor attention. However, 2024 could be the year that the music stops for Lucid stock. Plagued by questionable leadership decisions, dwindling cash reserves, and an intensifying competitive landscape, a reality check is overdue. Investors who were initially drawn to the company may be wise to reevaluate the ...

The electric vehicle maker has a huge competitive advantage, but it's facing bigger challenges.Lucid Group (LCID 3.26%) is among the several electric vehicle (EV) start-ups that have been compelled to cut prices of their cars and accept dwindling margins because of a global slowdown in demand growth for EVs. The timing couldn't be any worse for Lucid, which was already struggling with production and sales. Understandably, that has been reflected in its share price -- the electric car stock lost 13.6% in Mar ...

Down more than 35% on a year-to-date basis, Lucid Group (NASDAQ:LCID) stock has been an under-performer, to say the least. Now, the overall EV sector has been hit hard by a number of headwinds. Some of these are macro and sector-specific. However, like many of the harder-hit EV names, Lucid has production and deliveries problems. And while the company’s management team has done a good job of securing outside investment (we’ll get to that), there are still substantial losses and additional cash burn that wil ...

With Fisker collapsing, many investors are wondering which company could fall next -- is it time to give up on Lucid?It's been a rough go for electric vehicle (EV) start-ups lately, Lucid Motors (LCID -1.51%) included. The company has cut production forecasts numerous times, slashed prices on its only vehicle, reported a widening net loss during the fourth quarter, and barely delivered 6,000 vehicles in 2023.Combine those factors with a macroeconomic environment of high interest rates and slowing EV demand, ...

In the latest trading session, Lucid Group (LCID) closed at $2.62, marking a -1.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 0.8%, and the technology-dominated Nasdaq saw an increase of 1.24%.Shares of the an electric vehicle automaker witnessed a loss of 15.06% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 7.62% and the S&P 500's gain of 0.48%.The investment c ...

Tesla's weak delivery report sent the sector sliding.Electric vehicle (EV) stocks fell today after Tesla (TSLA -4.90%) and Rivian (RIVN -5.23%) both reported disappointing first-quarter delivery numbers.It was the latest sign that demand for EVs continues to fade and that the sector's stocks look broadly overvalued. Tesla is seen as a bellwether in the EV market as well, and other EV stocks tend to respond to Tesla-specific news.Tesla and Rivian closed down around 5%; Lucid (LCID -3.50%) dropped 3.5%. EV st ...

In the latest trading session, Lucid Group (LCID) closed at $2.86, marking a +0.35% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.The an electric vehicle automaker's stock has dropped by 14.41% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 1.71% and the S&P 500's gain of 3.32%.Analysts and investors alike will be keeping a c ...