Lucid announces 58% sales Increase in Q1 2025
- After Fisker 's bankruptcy last year, we may think that its competitor Lucid, which had been experiencing significant financial difficulties for several years, could suffer the same fate. In 2024, Lucid recorded losses of approximately $2.7 billion. However, the company ended this period with cash of $5.16 billion, thanks in part to support from Saudi Arabia's Public Investment Fund.
- For the full year 2024, Lucid produced 9,029 vehicles at its U.S. plant in Casa Grande, Arizona, meeting its targets. The carmaker delivered 10,241 vehicles, a 71% increase compared to 2023.
- By 2025, Lucid plans to double its production to 20,000 vehicles, with the launch of its Gravity SUV to strengthen its range and market position. This new model will go on sale starting in April 2025.
- The first quarter 2025 results show a 28% increase in production (2,212 units produced), not including the additional 600 vehicle kits in transit for final assembly in Saudi Arabia.
- Lucid delivered 3,109 vehicles in the first quarter of 2025, a 58% increase from the first quarter of 2024, while the Gravity has yet to go on sale. At this rate, the Air sedan could find 12,000 customers by the end of December 2025, but the Gravity is expected to take a number of customers.
- By 2025, the company expects sales of the Air sedan to reach 50% and sales of the Gravity SUV to reach 50%.