Core Viewpoint - Lucid Group, Inc. is experiencing a slowdown in electric vehicle demand in both the US and Europe, leading to a downgrade by Morgan Stanley and a revised price target [2][3][4] Group 1: Company Performance - Morgan Stanley downgraded Lucid Group, Inc. from Equal Weight to Underweight on December 8, reducing its price target from $30 to $10 [2] - The downgrade is part of a broader assessment of the auto and shared mobility industries, with Morgan Stanley projecting an "EV winter" lasting until next year [3] - Interim CEO Marc Winterhoff acknowledged a distinct slowdown in demand, attributing part of the decline to the elimination of US federal tax credits [4] Group 2: Market Outlook - The company is working through its backlog, which provides some protection against the slowdown in demand [4] - The first batch of Lucid's Gravity sport utility vehicles is expected to arrive in Europe later this year, with deliveries commencing in the first quarter of 2026 [4] - Morgan Stanley's forecast for internal combustion engines and hybrid vehicles has become moderately more favorable, indicating a shift in market dynamics [3]