Lucid’s second quarter results offered a mixed picture for the luxury EV maker, with deliveries climbing year-over-year but still falling well short of what analysts had expected heading into the quarter.
The company announced on Thursday it produced 4,774 vehicles and delivered 3,953 vehicles during the second quarter of 2026. While those figures represent growth of more than 20% compared to the same period last year, they fell below Wall Street expectations.
Analysts had been expecting between roughly 4,600 and 5,200 deliveries during the quarter, with consensus estimates around the 5,000-unit mark. Lucid ultimately missed even the low end of those projections by more than 650 vehicles.
The results come during a period of significant change for the automaker.
Earlier this month, Lucid announced plans to reduce its U.S. workforce by approximately 18%. The restructuring included the elimination of the second production shift at the company’s AMP-1 manufacturing facility in Arizona and is expected to save approximately $158 million annually.
Gravity ramp continues after difficult start
Despite missing expectations, Lucid’s Q2 figures show improvement from earlier in the year as the company continued ramping production and deliveries of the Gravity SUV.
The first half of 2026 proved challenging for the launch of Lucid’s second vehicle after the company halted deliveries for nearly a month following the discovery of improperly welded second-row seat belt anchors supplied by a third-party vendor.
That issue ultimately led to a recall affecting 4,476 Gravity SUVs built through mid-February and temporarily disrupted deliveries during the first quarter.
Through the first six months of 2026, Lucid has now produced 10,274 vehicles and delivered 7,046 vehicles. Those numbers leave the company well behind the pace required to meet its original production target of 25,000 to 27,000 vehicles for the year.
Lucid suspended that guidance in May following the arrival of new CEO Silvio Napoli, promising an updated outlook during its second-quarter earnings call scheduled for August 4.
New CEO reshapes leadership team
Alongside the delivery figures, Lucid unveiled a sweeping leadership overhaul under Napoli, reducing the number of executives reporting directly to the CEO by half.
The company announced new leadership appointments across finance, technology, customer operations, digital services, and enterprise transformation in an effort to speed up decision making and improve execution.
Among the changes, longtime CFO Taoufiq Boussaid will depart following the transition to incoming finance chief Alexander De Bock, while former COO Marc Winterhoff has already exited the company as Lucid eliminated the role entirely.
“We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” Napoli said.
Lucid will report its full financial results for the quarter on August 4, where the automaker is expected to provide updated production guidance and further details on how quickly the company’s restructuring efforts can improve its financial performance.
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