Lucid Motors will register a new sales record in the final quarter of 2025 as new orders trend as expected, Chief Financial Officer Taoufiq Boussaid said Wednesday.
Asked about the usual stronger quarter in the final months of each year, the CFO said: “There is definitely some seasonality. So we tend to compare versus last year, obviously, versus previous quarter. So as it trends now, I mean, we will see quarter-over-quarter growth.”
Boussaid did not provide specific sales or production targets for the quarter, nor did he reference the company’s 18,000-unit annual production guidance.
Meeting that target would require approximately 8,034 units in the fourth quarter—more than double the third quarter’s 3,891 units—based on the 9,966 vehicles produced in the first three quarters.
“Q4 might be a good quarter for us. So it’s something that we’re looking forward to close the year,” Lucid‘s CFO said at the UBS Conference. “But for the moment, the indicators are great.”
Lucid only discloses quarterly global production and delivery figures, which are expected to be released in early January 2026.
Gravity-Driven Quarter
The fourth quarter marks a pivotal shift for the electric vehicle maker as the Gravity SUV, which began small-scale production in late 2024, becomes the dominant product.
“Q4 will be primarily the Gravity quarter. It will represent the majority of our production and our sales,” Boussaid said. “And again, as I said, this is as per our initial expectation and plan.”
The finance chief said order trends are meeting company expectations.
“The orders are trending the way we expected them to trend. So we are not disappointed,” Lucid‘s executive said. “One of the things that we needed to do is to satisfy all the demand that we’ve been building since we announced the launch. And this is what we’re doing in Q4.”
Production Performance and Guidance
Lucid produced 3,891 vehicles in the third quarter, up 115% from 1,805 units in the year-ago period.
Second-quarter production reached 3,863 units, an 83% year-over-year increase, while first-quarter output was 2,212 units, up 28% from the prior year.
The company has twice reduced its 2025 production forecast.
Lucid initially targeted 20,000 units, lowered the range to between 18,000 and 20,000 units in early August, then cut the target to 18,000 units in early November when reporting third-quarter earnings results.
The CFO’s omission of any reference to the 18,000-unit annual production target leaves unclear whether the company still expects to achieve that figure with four weeks remaining until the end of the quarter.
US Sales Momentum
Lucid‘s US sales have risen for two consecutive months despite the September 30 expiration of the $7,500 federal EV tax credit, contrasting with broader industry trends.
The Saudi-backed EV maker sold 980 vehicles in the US in November, up from 935 units in October and 910 units in September, according to Motor Intelligence estimates released Tuesday.
The sequential gains contrast with overall electric vehicle sales declines in October and November for both traditional automakers and EV-focused brands following the incentive’s expiration, which erased the seasonal fourth-quarter sales push typical in the automotive industry.
Third Model
Lucid‘s third model, built on the new midsize platform, is planned to be launched in late 2026.
In the same UBS Conference, the CFO said the EV maker is planning to unveil the crossover “somewhere mid next year.”
The production in the Saudi Plant will allow Lucid to bypass the US tariffs imposed by Donald Trump earlier this year on auto parts imported from China, reducing the bill of materials for the company’s third model — according to the executive.
