Lucid Group's (LCID -4.68%) share price fell to a new record low this week due to concerning signs about demand in the electric vehicle (EV) market. The company's stock was down 12% from last week's market close heading into the start of this Friday's trading session, according to data from S&P Global Market Intelligence.On Wednesday news hit that Tesla had cut the price of its Model Y vehicles in Germany by 5,000 euros -- roughly $5,430 based on the current exchange rate. The EV leader also slashed prices ...

The stock of electric vehicle (EV) startup Lucid (NASDAQ: LCID) has continued its losses from 2023 into the early days of the new year, facing setbacks that are also impacting the general market. Notably, the company continues to struggle in keeping up with rivals such as Rivian Automotive (NASDAQ: RIVN) and Tesla (NASDAQ: TSLA) in the premium EV market.Lucid has encountered financial losses, and analysts emphasize the need for the company to scale up its production and deliveries to transition into a profi ...

Lucid Group (LCID -6.90%) stock is losing ground again in Friday's trading. The electric vehicle (EV) company's share price was down 7.1% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence.On the heels of the deliveries and production report that the company released yesterday, news hit today that Lucid would be recalling more than 2,000 vehicles. According to the announcement, the recall is due to possibly faulty high-voltage coolant heaters and includes both 2022 and 2023 Lucid Air ...

About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine.  Read more About the publisher Pr ...

Despite the growth of Electric Vehicle (EV) sales in the U.S., the electrification transition has faced challenges. Lucid (NASDAQ:LCID) is among the leading EV players many investors are watching. LCID stock delivered 1,457 vehicles in Q3, falling short of the expected 2,000, possibly influenced by charging infrastructure and affordability issues.Lucid revised its fiscal 2023 production forecast to 8,000-8,500 vehicles, down from over 10,000, citing weakened demand. Q3 revenue fell 29.5% year-over-year to $ ...

Key TakeawaysLuxury electric carmaker Lucid Group Inc. reported Thursday that production and deliveries in the fourth quarter fell from a year ago.Only 8,428 Air sedans were produced during 2023—well below its initial outlook of 10,000 to 14,000 and missing the revised estimate made in November.Shares of Lucid Group sank to an all-time low, and are down about 86% from when they began publicly trading in 2021.Shares of Lucid Group Inc. (LCID) sank to an all-time low Thursday as the luxury electric vehicle (E ...

Lucid Group reportedExternal link fourth-quarter production and deliveries on Thursday. The stock is falling, but the numbers look OK. There is a bigger issue auto investors are wrestling with. ...

Shares of Lucid Group Inc. fell deeper into record-low territory after the maker of luxury electric vehicles reported fourth-quarter deliveries that fell short of Wall Street expectations.The California-based company said it delivered 1,734 EVs during the fourth quarter, up 19% from the third quarter but down 10% from the same period a year ago. That missed the FactSet deliveries consensus of 2,000 EVs.The stock LCID, -6.74% sank 6.9% in midday trading and was headed for a third straight record low and 10th ...

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 ...