Luxury electric vehicle (EV) maker Lucid Motors recently revealed its first-quarter production and delivery numbers, marking its best quarter for deliveries to date. Although the production figures decreased from 2,314 in the first quarter of 2023, deliveries increased from 1,406 during the same period. This quarterly result also marked a record high for Lucid, surpassing the previous record held in Q4 2022 when the company delivered 1,932 units.
However, in Q4 2023, Lucid’s deliveries dropped to 1,734 units, representing a 10 percent decline year over year, despite producing 2,391 vehicles. In totality, Lucid produced 8,428 vehicles and delivered 6,001 units for the full year of 2023. The impressive quarterly delivery results have been attributed to significant price cuts made by Lucid, which likely contributed to the record quarterly deliveries.
Furthermore, an executive from the company mentioned in December that their plant, which opened in September, had already produced nearly 800 Lucid Air units. Overall, the milestone of achieving the best quarter for deliveries indicates a positive trajectory for Lucid Motors, despite fluctuations in production figures and deliveries in previous periods.