Lucid Motors Achieves Record Deliveries for Third Consecutive Quarter

The electric vehicle maker surpasses expectations with 2,781 deliveries in Q3, driven by substantial discounts and strategic planning.

Lucid Motors delivered 2,781 Air sedans in Q3 2024, marking a 91% increase from the same period last year.
Significant discounts averaging $19,403 per vehicle, along with a federal tax credit for leases, fueled the surge in sales.
Despite the delivery success, production decreased to 1,805 vehicles, necessitating heightened Q4 output to meet annual targets.
Lucid's upcoming Gravity SUV, set to begin production later this year, is expected to boost future sales.
Analysts note that while Lucid's deliveries exceeded expectations, the company's overall market share remains small compared to giants like Tesla.