Overview

• Lucid Motors delivered 6,001 vehicles in 2023, a 28% increase from the previous year, but fell short of its production goal of 8,428 vehicles.
• Lucid's Q4 2023 deliveries were down nearly 12% year-over-year, with 1,734 vehicles delivered compared to 1,932 in Q4 2022.
• Despite launching the cheaper Lucid Air Pure model and cutting prices on its Air electric cars by up to $12,000, the company continues to struggle to generate demand.
• Lucid's stock is down 7% following its Q4 EV deliveries report, hitting a new low with shares down over 60% over the past 12 months.
• The company hopes the launch of its first electric SUV, the Lucid Gravity, will boost demand in 2024.