Lucid Motors said on Wednesday it delivered 3,309 vehicles in the second quarter, a 38% increase from a year earlier, as it ramps up production of its second electric vehicle model.
The California-based EV maker produced 3,863 units between April and June, up 83% from 2,110 in the same period last year. Most of the output continues to come from its debut model, the Air sedan.
The delivery figure fell short of the 3,611 vehicles expected by analysts polled by Visible Alpha. A year earlier, Lucid had delivered 2,394 vehicles in the second quarter.
In the first quarter of 2025, Lucid built 2,812 vehicles, including 600 units it said were in transit to Saudi Arabia for final assembly at its AMP-2 facility in King Abdullah Economic City.
The company has reiterated its full-year production target of “approximately 20,000 vehicles.” Lucid has not provided any annual sales/ delivery targets.
Based on first-half production of 6,675 units — combining 2,812 units in Q1 and 3,863 in Q2 — Lucid would need to manufacture an additional 13,325 vehicles in the second half to meet its annual goal.
That would require a roughly 100% increase in output over the first half.
Deliveries in the second quarter rose 58% year on year.
Lucid’s sales in the U.S. market totaled 2,635 units for the period, with 820 in April, 975 in May, and 840 in June, according to data from Motor Intelligence. June sales declined 13.8% from the previous month.
As EV reported earlier this week, the brand sold three units of the Air sedan in Norway in the first half of the year. Two of those vehicles were sold in June.
The stock has dropped more than 30% over the past six weeks and briefly traded at $1.98 earlier in the session, just five cents above its all-time low hit last November, before paring some losses.
As of March, Lucid reported an accumulated deficit of $13.3 billion, according to its most recent filing with the U.S. Securities and Exchange Commission.
Its market cap, based on Tuesday’s closing price, stands at $6.19 billion — less than half its cumulative losses.
