Lucid Cutting Staff by 18%

[mini2nut]

I recently cancelled my order for a Lucid. I could tell they were in trouble. I think I could have gotten 25k off a new Lucid but I still didn't want to do it. I really thought about short selling it.

Smart financial move.

Corporate allowed up to 12 sales calls to reservation holders that cancelled their orders. Up to 12 harassing phone calls to make you reconsider. A move of desperation.

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[Dave711]

I had a preorder discount of 10k, they offered an additional 7.5k discount and I may have been able to still take the 7.5 tax break but the wife got tired of waiting for everything and I had to buy a MYP. It should come in next week. Not my cup of tea.

 

[pricedm]

Lucid has leading technology with light/efficient drive units, 900v architecture, range. But software seems to be lacking. To increase EV adoption, we don't need another $90k+ sedan. Had they come out with Gravity SUV first, or a $50 -70k car, I think survival chances would be much higher.

 

[computertom]

I think there are some views of the car that really work. Others are a bit head scratcher… technically it’s really a great vehicle that folks *say* drives amazingly well with great range. But man, that’s a tough price range to sell enough cars to build a brand with all this great competition.

 

[Lizardo]

I canceled my lucid air pure reservation almost a year ago. No reason to keep it. Once I saw everything I wouldn't get in the air pure like no ventilated seats, no glass roof and lesser interior. I didn't want to buying the "cheap" car at ~100k with some features that mattered to me. And to get them, I'd have to pay another $40-50k ... screw that.

 

[Ralph]

The investors just put more faith in the Saudis, who have a bottomless pit of money to throw at Lucid if they're so inclined.

This. And lots of Saudi secondary investors who support the governments investments with personal funds.

 

[Dave711]

Actually, I didn't like the Lucid.

 

[jebinc]

At least the Titanic had a band…

 

[DuoRivians]

Perhaps the $lcid shareholders will switch to $rivn

 

[Donald Stanfield]

I think there are some views of the car that really work. Others are a bit head scratcher… technically it’s really a great vehicle that folks *say* drives amazingly well with great range. But man, that’s a tough price range to sell enough cars to build a brand with all this great competition.

Exactly. At least the Rivian has truck capabilities of towing and material hauling. That's a specialty vehicle that you're going to pay more for. The Lucid is a sedan, and it's hard to justify that cost for one. Especially since they are more expensive than even post price hike Rivian's if you want the topped out model.

 

[shrink]

I think there are some views of the car that really work. Others are a bit head scratcher… technically it’s really a great vehicle that folks *say* drives amazingly well with great range. But man, that’s a tough price range to sell enough cars to build a brand with all this great competition.

Exactly. It’s a technically very impressive vehicle - fast, luxurious, full of tech, efficient, and great range. I don’t love the look of it. Why is the roof a different color than the body? In pictures to me it looks like a Camry, although they look better in person and much more sleek than I expected. Still don’t love thelook, though, and the lack of hatchback makes it much less practical. It’s also a huge vehicle.

Seems like they were just trying to make a better Model S and they succeeded overall, but at these prices I can’t imagine a huge market - especially with Model S Plaid, Taycan, Mercedes EQS, BMW i7, and even Genesis G80 in the luxury sport sedan market.

Seems like innovation in the EV realm right now are pickups, SUVs (Lyriq, Equinox, Blazer, Polestar 3, EV 9, Volvo EX90) and more affordable long range options (Fisker Ocean, IONIQ 6) rather than another luxury sport sedan like when the Model S came out a decade ago and was the only game in town at the time.

 

[kvenom]

Lucid Production and Deliveries fall dramatically

33% drop in production
27% drop in deliveries

Ouch.

 

[virgnia_rivian]

Lucid Production and Deliveries fall dramatically

33% drop in production
27% drop in deliveries

Ouch.

Produced: 2,314 of its Air sedans in Q1.
But it delivered just 1,406

"Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the first quarter."

 

[Donald Stanfield]

The Lucid is basically a different take on a model S. Ultra premium expensive sedans have a pretty limited market base. Sedans in general have fallen out of favor with the mass market. Lucid would have been better served making an SUV or crossover for their first car.

Rivian is poised to do much better as trucks are a much more popular category of vehicles vs sedans. Me personally I needed a truck but just occasionally for actual truck things. Most of the time I wanted a daily driver that was really fun to drive and fast. The Lucid has one of those things, the Rivian is the only vehicle with both.

I can just as easily solve this issue by buying a sports car and a truck, which is something I would have done but the Rivian is sports car enough for city streets. You aren't going to whip around blind corners faster than I can in my truck that's too dangerous for myself and others on the road. You can't even use the full acceleration Rivian has, so you don't need the dedicated sports car.

I'm not saying that sports cars don't have greater performance than the Rivian, just that you can't really use that higher level on public roads safely so the Rivian is good enough for my use. Having two cars instead of one is much more a pain in the ass to me. Even when I'm doing truck things I still get to drive my fun car so it's more of a win.

Lucid doesn't have a niche that will support sales flow. They copied Tesla's plan to release the halo sedan first, but what they didn't realize was the reason Tesla's was successful is they were first. They really were the first "fun" EV on the market. Today there are a shit load of fun and useful EVs so Lucid won't do well.

 

[Krusty]

Well said. I just don't understand why they thought there was going to be such a big market for their car. I know the Taycan is selling well but that's about the only premium EV sedan that is. I don't see a lot of MB, BMW, or Audi EV sedans out there. I would have seriously looked at the Gravity if it was available since I have aging parents and older children, a sedan really doesn't fit my lifestyle. Their only hope is that the Gravity is a big success. I wouldn't be surprised if they have to idle their plant soon because they will have excess inventory of the sedan.

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