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Lucid’s Q3 Deliveries Surge 47% But Fall Short of Estimates
Lucid’s Q3 Deliveries Surge 47% But Fall Short of Estimates
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3
BTCCSquare news:
Lucid Group reported a 47% year-over-year increase in Q3 deliveries, reaching 4,078 vehicles as buyers rushed to capitalize on the expiring $7,500 federal tax credit. Despite the growth, the figure fell below analyst expectations of 4,286 units. The EV sector faces headwinds as demand is expected to soften in Q4 with the tax incentive's expiration.
Production totaled 3,891 vehicles in Q3, with over 1,000 additional units destined for Saudi Arabia. Year-to-date figures show 9,966 vehicles produced and 10,496 delivered. Automakers like GM and Ford are exploring alternative strategies to mitigate the tax credit's phase-out, while Tesla outperformed with stronger-than-anticipated Q3 results.
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