Lucid (LCID) falls on 3Q production and delivery numbers
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Tesla (TSLA) follows GM and Ford (F), slows EV ramp as demand drops
October 19, 2023 9:21 AM EDTTesla (NASDAQ: TSLA), on Wednesday, echoed the cautious approach of General Motors (NYSE: GM) and Ford (NYSE: F) towards expanding electric vehicle (EV) production capacity. The company cited economic uncertainties and emphasized concerns about a possible decline in demand.
Tesla CEO, Elon Musk voiced his apprehension about the... More
Lucid (LCID) deliveries not as bad as it seems, Bank of America reiterates Neutral rating
October 18, 2023 9:47 AM EDTBank of America (BofA) reiterated their Neutral rating and $8.00 price target on Lucid Group (NASDAQ: LCID) after the electric automaker reported 3Q23 delivery results.
Lucid's EV deliveries totaled 1,457 units, approximately 35% lower than BofA's estimated figure of 2,250. The slight increase from the 2nd quarter's 1,404 deliveries indicates a softer demand, indicating that the company might be encountering reduced market interest.
However, BofA analysts note that Lucid... More
EV maker Lucid's quarterly production plummets; shares drop
October 17, 2023 9:11 AM EDTBy Jaspreet Singh and Akash Sriram
(Reuters) -Lucid Group posted a near 30% drop in third-quarter production and a marginal rise in deliveries despite big discounts, raising worries about demand for its Air luxury electric sedan and its ability to make 10,000 cars this year.
Shares in Newark, California-based Lucid were down more than 3.5% on Tuesday. They have lost more than a fifth of their value this year over concerns that EV startups will bear the brunt of Tesla's price war.
"We thought the disclosure was extremely disappointing," Garrett Nelson, senior equity analyst at CFRA Research, told... More
Lucid Group (LCID) delivered 1,457 vehicles in Q3
October 17, 2023 9:03 AM EDTLucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, winner of the 2023 World Luxury Car Award, today announced production and delivery totals for the quarter ended September 30, 2023. Lucid produced 1,550... More
