Lucid Group exceeded Wall Street's delivery expectations in Q3, delivering 2,781 vehicles against a forecast of 2,242, demonstrating improved demand partly due to earlier price cuts.
Despite a decrease in production from 2,110 units in Q2 to 1,805 in Q3, increased deliveries indicate Lucid's ability to effectively manage inventory, avoiding excess unsold vehicles.
Attention is shifting to Lucid's Gravity SUV, set to start production soon, which will feature the Tesla NACS inlet for easy access to the Supercharging Network.
Lucid aims to compete in the popular midsize vehicle segment with a new model, targeting disruption of the Tesla Model Y’s sales dominance in the U.S.
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