Lucid EV production drops 54% to 2,954 units

Lucid Motors manufactured 2,954 electric vehicles in the third quarter of 2026, marking a 54% drop compared with the same period a year ago. The company is deliberately curbing assembly to align output with demand. This marks the third consecutive quarterly decline in production and the lowest quarterly total since the first quarter of 2025, when Lucid started producing its Gravity SUV.

Deliveries reached 3,806 vehicles during the quarter, roughly flat compared with the second quarter and down by around 200 vehicles from the third quarter of 2025. Lucid built more cars than it delivered in five of the past six quarters as it struggled to attract buyers for its two luxury models.

CEO Silvio Napoli has spearheaded an operational overhaul aimed at cutting costs by $1.4 billion. Measures have included laying off roughly 1,500 employees, trimming management roles, and removing a second shift at the Arizona manufacturing plant. Lucid also delayed the release of the Cosmos, a planned lower-cost vehicle intended to start under $50,000.

The delivery performance contrasts with rival Rivian, which delivered nearly 20,000 vehicles in the third quarter following the ramp-up of its R2 model, up from 12,194 in the second quarter. When Lucid went public through a blank-check merger in 2021, raising $4 billion, it projected it would deliver up to 90,000 vehicles in 2024 alone.