Lucid Group reported a 6.7% year-over-year decline in third-quarter vehicle deliveries, following the electric automaker’s decision to scale back production in an effort to better match softer customer demand.
The U.S. manufacturer, which receives substantial backing from Saudi Arabia’s Public Investment Fund, said Monday that it delivered 3,806 EVs and built 2,954 vehicles between July and September, according to CNBC Markets. In the same quarter a year earlier, Lucid delivered 4,078 EVs and produced 3,891 vehicles.
Across the first three quarters of the year, deliveries are 3.4% ahead of the prior-year pace, while production has risen 33% as the company increased output through early 2026.
Lucid’s strongest production quarter came in the final three months of last year, when it built close to 7,900 units. That was followed by 5,500 vehicles in the first quarter of this year.
Shares of Lucid finished Monday’s session up less than 1% at $4.17 and moved little in extended trading after the delivery figures were released. The stock has lost more than 60% of its value this year.
The third quarter marked the first period since Lucid reduced operations at its Arizona plant from two shifts to one, part of what the company calls an “operational reset” led by new chief executive Silvio Napoli, who took the top job in June.
That turnaround effort targets $1.4 billion in cash flow improvement opportunities during the year. When it reported second-quarter results in August, the company outlined roughly $600 million to $800 million tied to vehicle inventory, $500 million in capital expenditures and $200 million in operating expenses.
Lucid said Monday that it will publish its third-quarter results on Nov. 9, after markets close.
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