Lucid Motors sold an estimated 935 vehicles in the US in October, with 250 Gravity SUVs and 685 Air sedans, according to Motor Intelligence data released Monday.
The figures, which Lucid has previously disputed in recent months as inaccurate, show a 40% increase from 670 vehicles a year earlier and a 3% gain from September’s 910 units.
The electric-vehicle maker, which reports only global quarterly figures, delivered 4,078 vehicles worldwide in the third quarter.
Motor Intelligence‘s US estimates for the period totaled 2,793 units, based on monthly tallies of 890 in July, 993 in August and 910 in September.
A Lucid spokesperson last month called Motor Intelligence‘s estimates “inaccurate and not even in the ballpark.”
The company didn’t immediately respond to a request for comment on the October data.
Motor Intelligence estimated that Lucid delivered 910 vehicles in September, following 993 in August and 890 in July.
This indicates that Lucid‘s total US deliveries for the third quarter would be at 2,793 vehicles. Last month, the brand reported 4,078 vehicles delivered globally during the same period.
October figures represent a 40% jump year over year, from 670 vehicles, and a slight 3% increase from September, by 25 units.
Sequential Growth Despite EV Credit Expiry
The numbers contradict the overall tendency of a sales slowdown after the federal EV tax credit expired on September 30.
After a new record with third quarter deliveries, Tesla saw its registrations tumble 31% sequentially and 24% year over year, according to the platform.
The Elon Musk-led company sold 40,650 vehicles in October, about 18,000 units below September.
Detroit automaker Ford lost 60% of electric vehicle sales from September to October, and 25% from a year ago.
Lucid and Rivian (whose registrations declined sequentially but increased year over year) were less affected by the expiration of the federal EV tax credit than other automakers.
Both companies offer vehicles that were priced above the program’s eligibility thresholds.
The Lucid Air starts at $70,900, exceeding the $55,000 cap for sedans, while the Gravity (in its Grand Touring trim, the only version available at the time) starts at $94,900, well above the $80,000 cap for trucks and SUVs.
Because these price caps did not apply to leased vehicles, both California-based EV makers relied on leasing to enable customers to benefit from the incentive.
Lucid Offers
In addition, Lucid started offering in 2023 a $7,500 credit on Lucid Air purchases through financing, to offset the lack of federal credit eligibility.
The offer has been extended after the federal credit expired, and has been renewed until November 30, according to its website.
The company also set a 0.99% APR on customers buying the sedan.
The company currently features several Gravity units in its inventory, across multiple US states. Prices start from $96,550.
According to Nick Twork, Lucid’s Head of Global Communications, the listings weren’t linked to demand but reflected efforts to assemble small batches around parts availability and align them with existing orders.
Production Ramp-up
The EV maker is targeting production of 18,000 to 20,000 vehicles in 2025, a target that was revised to include a lower-end in August.
Considering that Lucid produced 9,966 vehicles between January 1 and September 30, it must produce between 8,034 and 10,034 vehicles in the final three months of the year to stay within the guidance.
Production is ramping up, with a second shift having recently started operating in its Arizona plant, as exclusively reported by EV.
The company will disclose its third-quarter earnings results on Tuesday (November 4), after market close.
On Monday, Lucid’s stock closed 6.3% down at $16.64.
The company is nearing the all-time low of $15.25 reached in early September, after the reserve stock split, announced in July and approved by shareholders in August, was implemented.
