Lucid Motors Sets New Sales Record in Q1 2024 Amid Price Cuts

Despite a significant drop in production, Lucid Motors achieved a 40% increase in deliveries compared to last year, thanks to aggressive pricing strategies.

Lucid Motors delivered 1,967 vehicles in Q1 2024, marking a new quarterly record.
Production decreased by 25% from the previous year, totaling 1,728 vehicles.
Price reductions and incentives, including discounts up to $30,000, fueled the surge in sales.
Lucid plans to launch the Gravity SUV soon, aiming to expand its market presence.
The company received an additional $1 billion investment from Saudi Arabia's Public Trust Fund.