Lucid Motors sold a total of four vehicles last month across its four European markets, as the company continues to face weak demand in the Old Continent.
Sales have fallen by more than half compared to September — when the company sold 11 vehicles across Germany, Switzerland, Norway, and the Netherlands.
The figures also mark the third consecutive month of sales being cut in more than half, following August’s 23 units and July’s 84 vehicles.
The plunge is sharper when considering the figures reported in October 2024.
Lucid had registered 134 vehicles in the same month a year ago, of which 129 were sold in the German market alone.
Official registration data published by the KBA showed that the brand’s sales reached a 30-month low in Europe’s largest car market.
Norway
The situation also worsened in Norway, where, for the second month in a row, the luxury brand has sold zero units of its debut model, the sedan Lucid Air.
From the beginning of the year, only 18 vehicles were sold in the country, with the majority of them having been registered in July.
The company has faced weak demand in the Nordic market, despite reduced prices earlier this year.
Lucid entered Norway in early 2023, opening a premium showroom in central Oslo, following its European debut in Munich, Germany, a year earlier.
Netherlands
Its European headquarters were established in the Netherlands in 2021, ahead of the market launch a year later.
Four years later, monthly sales continue to be mostly below 10 units, according to data shared by BOVAG.
In October, Lucid registered two vehicles in the Netherlands — one Gravity and one Air.
Since the company has not yet confirmed the start of Gravity deliveries to customers in Europe, the Gravity unit was likely a test-drive vehicle.
Orders for the Gravity model opened across its four European markets in early September, as the model was introduced at the Munich IAA Auto Show.
Switzerland
Lucid sold only one vehicle in Switzerland last month.
There, the Lucid Air is priced from CHF 91,900 ($114,650) and the Gravity SUV starts from CHF 108,900 ($135,860).
Deliveries in the Swiss market began on March 2024, according to data available on platform EU-EVs.
The company’s highest monthly result so far was reached in June, when it sold 22 units.
Sales have otherwise remained below 10 monthly units.
Business Model Switch
Lucid is introducing a mixed retail model in Europe, which will start with Germany and expand to other markets in 2026.
According to Lucid‘s Europe President Lawrence Hamilton, the Newark-based EV maker is transitioning from a direct-to-customer sales model in the country, with plans to “be represented in 12 to 15 cities” during the initial phase.
The EV maker plans to extend the model beyond Germany in 2026, with new market entries slated for Belgium, Denmark, the UK, France, Italy and Spain, relying exclusively on local dealer partnerships.
Q3 Results
Last week, Lucid reported its third-quarter results, missing Wall Street consensus on revenue, gross margin and net loss.
For the second time this year, the company has lowered its delivery forecast. It had initially aimed to produce 20,000 vehicles in 2025 but now expects just 18,000 from its two plants.
Meanwhile, the company announced its twelfth executive departure in less than two years — Erich Bach has left the EV maker after more than a decade.
As exclusively learned by EV on Wednesday, the company’s Senior VP and Product Chief Eric Bach has been let go by the management over several delays with the Air and, more recently, the Gravity.
As of press time, Lucid shares are falling nearly 7%on Wednesday’s trading session at $15.89.
