Lucid per car loss is crazy

[1T2022]

"On top of lower deliveries, Lucid’s losses are piling up. The EV maker’s net loss reached $2.17 billion through the first nine months of the year. In Q3, Lucid lost around $433,000 on every EV it made."

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[DaveA]

"On top of lower deliveries, Lucid’s losses are piling up. The EV maker’s net loss reached $2.17 billion through the first nine months of the year. In Q3, Lucid lost around $433,000 on every EV it made."

All that money, gone into thin Air.

 

[Dark-Fx]

All that money, gone into thin Air.

You mean the CEO's wallet.

 

[COdogman]

They could probably survive like this forever as long as they have that Saudi money coming in.

 

[1T2022]

someday the LCID will drop like a rock. I don't understand at all why those people bought Vinfast at that radicular price after we went through RIVN and LCID downfall. stupid or intentional criminal act

 

[Oldsmobile_Mike]

What do you think Rivian's loss was on the first truck they produced? ?

 

[KootenayEV]

Yikes why did I buy their stock too?! Hopefully Gravity turns it around for them... and I'm also somewhat banking on the deep pockets behind them.

 

[MIG]

It's the old Jackie Mason joke:

"I know a guy who sells suits below cost."

"Below cost?? How does he make money?"

"He sells a lot of suits."

 

[Shuasha]

Using that same math, Rivian loses $108k on every R1 sold.
Both companies are in start up mode, building factories and reputations. Rivian is doing better, but obviously losing money as expected at this point.

We have a Lucid Air and a R1S and they're both great. But they both have "new company problems" that will be sorted over time. I have stock in both companies because I think they're great.

The Lucid CFO just resigned, I'm guessing change is good.

 

[1T2022]

i knows it's bad at Lucid, but I didn't realize that bad.

 

[WorldComposting]

What do you think Rivian's loss was on the first truck they produced? ?

Using that same math, Rivian loses $108k on every R1 sold.
Both companies are in start up mode, building factories and reputations. Rivian is doing better, but obviously losing money as expected at this point.

We have a Lucid Air and a R1S and they're both great. But they both have "new company problems" that will be sorted over time. I have stock in both companies because I think they're great.

The Lucid CFO just resigned, I'm guessing change is good.

While true Rivian has produced a lot more vehicles the fact that Rivian figures are trending upward and Lucid numbers are trending down is not a sign of good health.

Lucid is expected to make 10,000 vehicles this year and is trending down to 8,000
https://www.lucidmotors.com/media-room/lucid-q3-2023-financial-results

Rivian is expected to make 50,000 vehicles this year and is trending up to 52,000
https://rivian.com/newsroom/article/rivian-releases-q3-production-figures-2023

I hope Lucid is successful and look forward to the Gravity coming out but these companies are on very different trajectories.

 

[vandy1981]

What do you think Rivian's loss was on the first truck they produced? ?

That's the problem--Lucid will never offset costs with production volume on a $75K+ sedan and the Gravity won't even be available for another year.

Good thing the Saudi Royal Family has such deep pockets.

 

[emoore]

Loss per vehicle for any of the EV startups are pointless at this stage. Of course it's going to be high, there is a lot of capital to be purchased and you are not going to get that back until you start selling hundreds of thousand or millions of vehicles.

 

[Rob Stark]

The "loss per vehicle" metric is dumb for an automotive startup.

 

[AbhorViolence]

This is partly why I realized over the last year+ that RIVN was the better choice vs LCID. But even more important is that Rivian has no real competition. They are first to market, own the "adventure vehicle" segment, and no other EV truck comes close. The Cybertruck release being so stunningly bad (roughly double the price and half the range promised, and not even really available til 2025, nevermind the hideous looks) only further solidifies this.

Lucid competes in a small market of high end sedans (and maybe SU-minivans now with Gravity). While being generally higher quality in some ways, they compete more or less directly with Tesla, who has a massive lead.

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