About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Lucid Motors delivered only 6,001 of the 8,428 cars it built last year, as it continues to struggle to generate demand for its luxury electric sedans.The Saudi-backed company limped to the finish of 2023, building just 2,391 cars and delivering 1,734 in the fourth quarter — down 31% and 10%, respectively, from the fourth quarter of 2022. That’s despite the fact that Lucid launched the cheapest version of its car, dubbed the Lucid Air Pure, in October and immediately cut the price of the all-wheel drive trim ...

NEWARK, Calif., Jan. 11, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, selected to Car and Driver's 10Best list for 2024, today announced production and delivery totals for the quarter ended December 31, 2023. Lucid produced 2,391 vehicles during Q4 and delivered 1,734 vehicles during the same period.*   On a full year basis in 2023, the company produced 8,428 vehicles and delivered 6,001 vehicles. Lucid will host a conference ...

2023 has been a challenging year for Lucid (NASDAQ: LCID), with troubles that never seem to end, with significant workforce reductions, with over 18% cut last March.Additionally, the December departure of its Chief Financial Officer (CFO), Sherry House, further underscored the challenges. The company’s full-year production outlook also declined due to weakening demand. Compounding the issues, the stock was removed from the Nasdaq 100 index, and multiple analysts downgraded it, citing low interest in its cos ...

Nikola (NKLA 5.30%) and Lucid (LCID 0.53%) both disappointed investors in similar ways after their public debuts. Both electric vehicle (EV) makers went public by merging with special purpose acquisition companies (SPACs), attracted a stampede of bulls with their optimistic production forecasts, then drove them away by missing those estimates by a mile and racking up steep losses in a deteriorating macro environment.Both companies also initially dazzled the bulls with their ambitious plans. Nikola tried to ...

If there's one constant on Wall Street, it's that there's always a next-big-thing investment trend capable of changing an industry or revolutionizing the world. Throughout 2023, artificial intelligence (AI) captivated the attention of investors. But before AI dazzled Wall Street, it was the rise of electric vehicles (EVs) that garnered investors' attention.According to a 2023 report ("X-Change: Cars") from the researchers at Rocky Mountain Institute (RMI), EVs are expected to grow from a little over 10% of ...

With drop-dead gorgeous cars, industry-leading powertrain technology, and support from one of the wealthiest nations in the Middle East, Lucid Group (LCID -0.58%) seems to have everything it needs to win. But since hitting an all-time high of $58 in early 2021, shares have been in a slow-motion collapse -- shedding 93% of their value at the time of writing as the company grapples with weak demand and spiraling losses.The next three years will be a make-or-break period for Lucid. It could either fix its oper ...

With a challenging year that saw the stock price of Lucid Motors (NASDAQ: LCID) decline 40% and a notably less forgiving electric vehicle (EV) market toward underperforming companies, experts have retained a somewhat reserved attitude towards its price in the next 12 months.Indeed, the luxury EV maker went through massive layoffs in 2023, reducing its workforce by 18% in March and seeing its chief financial officer (CFO) Sherry House leave abruptly in December, while its full-year production outlook decline ...

Lucid Group (LCID) closed at $3.89 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq lost 0.56%.Coming into today, shares of the an electric vehicle automaker had lost 10% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.24%, while the S&P 500 gained 2.56%.Market participants will be closely following the financial results of Lucid Group in it ...

Fool.com contributor Parkev Tatevosian compares Nio (NIO 3.63%) and Lucid (LCID -1.39%) to determine which is the better EV stock to buy for 2024. *Stock prices used were the afternoon prices of Dec. 26, 2023. The video was published on Dec. 28, 2023. ...