Lucid Motors production fell by over half in Q3

US luxury electric vehicle manufacturer Lucid Motors produced 2,954 vehicles in the third quarter of the year, a 54% decrease compared to the same period last year. The company has proactively managed its production capacity to align with market demand.

This marks the third consecutive quarter of declining vehicle production for Lucid Motors. The third-quarter output was also the lowest since the first quarter of 2025. It was after that quarter that Lucid Motors commenced production of its second model, the Gravity SUV.

Lucid Motors delivered 3,806 vehicles in the third quarter, a figure largely consistent with the previous quarter but approximately 200 fewer than in the third quarter of 2025. The company's first two luxury EV models have faced sales challenges, with production exceeding deliveries in five of the last six quarters.

New CEO Silvio Napoli has spearheaded a "simplification of the company's operations." These measures include reducing the workforce by approximately 1,500 employees, streamlining management, and eliminating a second production shift at the Arizona factory, aiming for cost savings of $1.4 billion. The company has also postponed the launch of its third vehicle, the Cosmos, a lower-priced model intended to start under $50,000.

Lucid Motors' initial projections were significantly higher, with the company aiming to deliver 90,000 vehicles in 2024 at the time of its 2021 listing. In contrast, rival Rivian reported a strong quarter with nearly 20,000 deliveries. CEO Napoli has acknowledged issues with the company's execution, stating, "Our execution has lacked stability, and we have failed to deliver on commitments multiple times."