During the second quarter of 2024, Lucid Group continued to increase electric car sales, achieving a new record result, while production slightly decreased.
In Q2, the company delivered 2,394 Lucid Air luxury all-electric cars, 70% more than a year ago and almost 22% more than in the record Q1 (1,967). This growth indicates that the price reductions translated into more orders.
Lucid Gravity on the horizon
Currently, Lucid offers only one model—the Air sedan—although, in the near future, the company will launch the promising Gravity SUV. This will be the most important event for Lucid, which has to scale up its business.
At the same time, Lucid’s EV production amounted to 2,110 units. It’s a relatively stable level, just 3% lower than a year ago. Interestingly, production increased compared to Q1 (1,728).
The most important thing for Lucid is that the car inventory is slowly decreasing. In Q2, the company delivered 284 more cars than it produced. In Q1, the difference was 239. However, the accumulated difference between production and sales remains high at over 4,700 units or more than half a year of sales. Once the company focuses on the upcoming Lucid Gravity model, the surplus of Airs might be gradually unloaded.
Lucid Q2’2024 results (YOY change):
- Total production: 2,110 (down 3%)
- Total deliveries: 2,394 (up 71%)
During the first half of the year, Lucid delivered 4,361 electric cars, 55% more than a year ago. However, the recent result is still far behind the company’s original hopes of 20,000 units in 2022.
Lucid Q1-Q2’2024 results (YOY change):
- Total production: 3,838 (down 14%)
- Total deliveries: 4,361 (up 55%)
For reference, in 2023, Lucid produced 8,428 cars (up 17% year over year) and delivered 6,001 cars (up 37% year over year).
Cumulatively, Lucid delivered almost 15,000 electric cars, compared to well over an estimated 19,000 produced.
Lucid plans to host a conference call on Monday, August 5, 2024, to discuss its second quarter 2024 financial results.
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2024 Lucid Air
We have attached the up-to-date Lucid Air pricing below. Some versions have more than 400 miles of EPA driving range, while the Lucid Air Grand Touring AWD with 19-inch wheels is rated at 519 miles.
| Model | Base Price | Dest. Charge | Tax Credit | Effective Price |
| 2024 Lucid Air Pure RWD 19-in | $69,900 | +$1,575 | N/A | $71,475 |
| 2024 Lucid Air Pure RWD 20-in | $71,650 | +$1,575 | N/A | $73,225 |
| 2024 Lucid Air Touring AWD 19-in | $77,900 | +$1,575 | N/A | $79,475 |
| 2024 Lucid Air Touring AWD 20-in | $79,650 | +$1,575 | N/A | $81,225 |
| 2024 Lucid Air Touring AWD 21-in | $81,400 | +$1,575 | N/A | $82,975 |
| 2024 Lucid Air Grand Touring AWD 19-in | $109,900 | +$1,575 | N/A | $111,475 |
| 2024 Lucid Air Grand Touring AWD 20-in | $109,900 | +$1,575 | N/A | $111,475 |
| 2024 Lucid Air Grand Touring AWD 21-in | $111,650 | +$1,575 | N/A | $113,225 |
| 2024 Lucid Air Sapphire 20-in (F) 21-in (R) | $249,000 | +$1,575 | N/A | $250,575 |
*Lucid adds a Destination fee (DST) of $1,500 and a Documentation fee of $75 to all its models ($1,575 total).
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