Lucid able to triple production in Q3, on track to meet lowered annual delivery guidance

Lucid Air_Customer Deliveries
Credit: Lucid

Lucid Group has announced their Q3 2022 production and delivery figures and the company was able to significantly increase both from what was a difficult second quarter. With the growth, Lucid has reaffirmed their annual delivery guidance, which had already been lowered twice this year.

According to Lucid they were able to produce 2,282 Air sedans at their manufacturing facility in Casa Grande, Arizona. This is more than three times the number of electric vehicles they were able to produce in Q2.

With the increased production they were able to deliver 1,398 Lucid Air vehicles to customers between July and September. This figure was more than double what they were able to deliver in Q2 when 679 new vehicles were handed over to customers.

In a press release announcing the figures, Lucid said their Q3 results were in line with their expectations. As a result, they are on track to deliver between 6,000 and 7,000 vehicles in 2022.

To meet the low end of that target, Lucid would need to deliver 2,438 vehicles in the final quarter of the year.

The automaker was originally hoping to deliver 20,000 cars this year, but cut that figure to between 12,000 and 14,000 in February, and then again in August to the current estimate.

Lucid will publish its Q3 2022 financial report after markets close on November 8, 2022. The company will then host a conference call to discuss the results at 2:30 pm PT (5:30 pm ET).

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