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Luxury EV Maker Lucid Beats Delivery Estimates on Price Cuts, but Production Slows
LCIDLucid (LCID) Investopedia·2024-04-09 18:00

Key TakeawaysElectric vehicle maker Lucid Group announced first-quarter vehicle deliveries of 1,967, a record high figure that exceeded estimates.Sales got a boost from price cuts announced in February.Production in Q1 slipped to 1,728, some 400 short of estimates and well below the previous quarter’s 2,391. Lucid Group (LCID) shares gained ground Tuesday as the luxury electric vehicle (EV) manufacturer delivered more cars than expected in the first quarter as it cut prices, although production slowed. The ...