Having garnered tests and reviews that place it among the best passenger cars in the world has not been enough for Lucid Motors to meet the production objective it had set for what is its first mass-produced model: the Lucid Air.
The above is leading, as Bloomberg recently pointed out in one of its reports, to losses for each unit produced of 330,000 dollars, which in exchange results in about 312,000 euros. The reason for these losses is that the brand is not selling as many cars as expected, since it established an annual production target of 10,000 units, and the truth is that its sales are developing much slower than expected.
As the American manufacturer itself has announced in its quarterly results report, at the end of the third quarter of the year it has only put a total of 1,550 units of the Lucid Air on the streets when the pace should be set at around 3,300 to achieve the goal. To those 1,550 units could be added another 700 that the brand moved to begin work on its recently inaugurated factory in Saudi Arabia.
Meanwhile, the total number of units delivered during July, August, and September was only 1,407 units. The total figures harvested throughout the year will be announced at a conference scheduled for November 7.
However, it should be noted that no matter how heavy the losses that the manufacturer is registering for each unit it sells, the truth is that it is much further from bankruptcy than other manufacturers that are in a similar position. Rivian, for example, loses about $30,000 for each unit it produces of its capable SUVs.) The reason for this is that the emerging North American manufacturer is backed by the Saudi Arabian Public Investment Fund.
Be that as it may, the truth is that establishing a goal of 10,000 units per year for a car with the characteristics of the Lucid Air was very optimistic. The most affordable model costs almost 100,000 euros and the most exclusive goes up to 250,000, which puts it in the niche market of luxury cars. Here, in this category, reputable and established manufacturers such as Bentley, Lamborghini or Ferrari do not carry their production much beyond several tens of thousands of units each year, so it is even more complicated for a brand as young as Lucid, which sometimes It still has to gain a reputation and a market share.
Even without achieving the objectives it has on the table, Lucid Motors continues with more projects. The brand has on the table the launch of an electric SUV derived from the Air, and later it also plans to launch an electric car the size of the Tesla Model 3, although it does not intend to sell it at the same price.
