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Lucid Group Inc

All articles tagged with #lucid group inc

business2 years ago•1 min saved

Lucid's Stock Plummets as Q4 EV Deliveries Fall Short

Lucid Group Inc.'s stock plunged to another record low after the company's fourth-quarter electric vehicle deliveries fell short of Wall Street expectations, with shares sinking 6.9% in midday trading. The company reported delivering 1,734 EVs, missing the FactSet consensus of 2,000, and producing 2,391 vehicles in the fourth quarter, down about 32% from last year. This disappointing news also impacted other EV makers, with Tesla Inc. and Rivian Automotive Inc. seeing declines in their stock prices.

via MarketWatch|

#business #electric-vehicles #ev-deliveries

business-electric-vehicles2 years ago•1 min saved

Lucid Motors Exceeds Quarterly EV Delivery Expectations Despite Stock Decline

Lucid Group Inc. exceeded analyst estimates by delivering 1,734 electric vehicles in the fourth quarter, but fell short of its original target for the year with 8,428 EVs produced. The company struggled with supply issues and inconsistent output at its Arizona plant, leading to a 57% stock decline in the past 12 months.

via Yahoo Finance|

#business-electric-vehicles #electric-cars #ev-deliveries

business2 years ago•1 min saved

Lucid Electric Vehicle Maker Faces Stock Drop as CFO Resigns

Lucid Group Inc.'s chief financial officer, Sherry House, has resigned from the luxury electric vehicle maker, adding to the company's challenges in increasing production. Gagan Dhingra, the current vice president of accounting and principal accounting officer, will serve as interim CFO while the company searches for a permanent replacement. Lucid's stock fell 3.9% following the announcement, contributing to a year of volatility for the company, which has faced production setbacks and a decline in stock value.

via Yahoo Finance|

#business #cfo-resignation #electric-vehicles

business2 years ago•0 min saved

Lucid's Stock Takes Hit as CFO Departs

Lucid Group Inc.'s stock dropped 4% after the electric vehicle (EV) maker announced the resignation of its Chief Financial Officer, Sherry House, who will be leaving to pursue other opportunities. The company named Gagan Dhingra as interim CFO while they search for a replacement.

via MarketWatch|

#business #cfo-departure #ev-maker

business2 years ago•0 min saved

Lucid's Stock Plummets on Q3 Sales Miss and Production Forecast Cut

Lucid Group Inc. (LCID) shares plunged over 8% to reach a record low following the company's disappointing quarterly results and lowered production outlook. The stock is down 93% from its all-time high in February 2021 and has declined 42.17% this year, in contrast to the S&P 500 index's 14% gain.

via MarketWatch|

#business #ev-maker #lcid

business2 years ago•0 min saved

Lucid's Production Cuts Lead to Decline in Quarterly Revenue

Lucid Group Inc., an electric vehicle (EV) maker, reported mixed quarterly earnings and lowered its production outlook for the year to 8,000-8,500 vehicles, down from the previous guidance of over 10,000 vehicles. The company posted a loss of $631 million in the third quarter, compared to a loss of $530 million in the same period last year, while revenue fell to $137.8 million from $195.5 million. Lucid appointed Marc Winterhoff as its first chief operating officer to oversee daily operations and execution across various areas. Shares of Lucid dropped over 2% in after-hours trading and ended the regular trading day down 4.3%.

via MarketWatch|

#business #ev-maker #lucid-group-inc

business2 years ago•5 min saved

Lucid Motors' Massive Losses Per Car and Rivian's Plummeting Stock Shake EV Investors

Lucid Group Inc., an electric vehicle startup, is facing investor skepticism as it burns through $338,000 for every vehicle it produces this year and struggles to ramp up sales. The stock has dropped nearly 25% this year, while rival Rivian Automotive Inc. has only declined 1%. Lucid's average 2023 sales estimate has plummeted by almost 50% in the past six months, while Rivian's has risen by about 5%. Lucid's deepening losses, slower sales growth, and potential default risk have raised concerns among investors, while Rivian's larger addressable market and stronger sales performance have positioned it in a better place.

via Yahoo Finance|

#business #electric-vehicle-startups #lucid-group-inc

business2 years ago•1 min saved

Lucid's Q1 production and deliveries disappoint.

Lucid Group Inc reported lower production and delivery figures for Q1 2022, in line with its guidance of weak production this year. The luxury electric car-maker produced 2,314 vehicles and delivered 1,406 in the quarter ended Mar. 31, lower than the 3,493 vehicles produced and 1,932 delivered in the December quarter. The company was hit by aggressive price cuts sparked by Tesla Inc that lured consumers away from its luxury cars amid rising interest rates and high inflation.

via Yahoo Finance|

#business #deliveries #electric-vehicles