Reported about 15 hours ago
Electric vehicle manufacturer Lucid reported a 38% increase in second-quarter deliveries, totaling 3,309 vehicles, but this still missed analyst estimates of 3,611. The company's sales were impacted by rising interest rates, leading consumers to favor cheaper hybrid and gasoline vehicles. Lucid's production also fell short of projections, producing 3,863 vehicles in the quarter, while it maintained its annual production targets despite economic challenges. The success of new models like the Gravity SUV and a mid-size car aimed at a $50,000 price point is critical for the company's future.
Source: YAHOO