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Q1 deliveries much worse than expected

Counted 72 unplated Gravity, between theater lot, mall garage and outside Lucid, Natick, studio a/o today.
 
Pragmatic said:
So preliminary revenue estimate for 1q26 is a disappointing $280-$284m verse a street consensus of $433m
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What else do you expect if they didn’t sell for a whole month? Of course they don’t meet those expectations. Thats why stock price dropped. Hopefully they make it up in the next 3 quarters.
 
Now .76 cents it’s getting worse. I thought bottom was gonna be .85 or so
 
gaskiller said:
Quadrupling my position! Oversold!
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Hope you are right! 🙏

Lucid has some technology equity, but its integration (HW/SW/Service) and execution is substantially below par.

Lucid's electrochemical efficiency is world-class....BUT, in spite of Lucid's claims, it's efficiency leadership is only single digit ahead of its competitor's, at best!

Mid-size, which requires excellence in cost, efficiency, mass-market service support, is the next battle ground. Lucid is 1+ year late to that contest.

I hope the new CEO drives a laser focus on what pays the bills and don't waste time on distractions.

It is now or never!
 
HC_79 said:
I mean, if you’re just throwing money away can I give you my Venmo? 😂
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If PIF wants to invest half a billion, I have no qualms! They are averaging down, so am I. My cost average will be much less than PIF. 😁
 
BS8899 said:
Hope you are right! 🙏

Lucid has some technology equity, but its integration (HW/SW/Service) and execution is substantially below par.

Lucid's electrochemical efficiency is world-class....BUT, in spite of Lucid's claims, it's efficiency leadership is only single digit ahead of its competitor's, at best!

Mid-size, which requires excellence in cost, efficiency, mass-market service support, is the next battle ground. Lucid is 1+ year late to that contest.

I hope the new CEO drives a laser focus on what pays the bills and don't waste time on distractions.

It is now or never!
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Software improving, efficiency still much ahead, midsize will be less costly to build than most other companies, 1 year too late for what?

I expect $2 billion in sales this year. 4 billion in 2027.

It only took a dump because of 1st qtr earnings which dropped due to seat issue. Not a problem anymore. Over reaction by the markets. Algorithms just saw the bad earnings and dumped the stock. It doesn’t reflect reality and reverse effect will be in play soon.

Everyone knows engineering is fantastic and few of my work colleagues looking at buying. Now that S and X is gone, they don’t have other options. They don’t like the cartoon lights or vibe of the Rivian.
 
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gaskiller said:
Software improving, efficiency still much ahead, midsize will be less costly to build than most other companies, 1 year too late for what?

I expect $2 billion in sales this year. 4 billion in 2027.

It only took a dump because of 1st qtr earnings which dropped due to seat issue. Not a problem anymore. Over reaction by the markets. Algorithms just saw the bad earnings and dumped the stock. It doesn’t reflect reality and reverse effect will be in play soon.

Everyone knows engineering is fantastic and few of my work colleagues looking at buying. Now that S and X is gone, they don’t have other options. They don’t like the cartoon lights or vibe of the Rivia
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No need to debate.

Time will tell.

"Reality, what a concept!" (the late Robin Williams)
 
why cant we all just get along
 
BS8899 said:
> I believe all new cars are picked up by the customers at the Service Center, not at the Showroom (which is in a mall).
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I took delivery of my Gravity at the Scottsdale service center, so that is accurate.
 
gaskiller said:
This is one company I don’t understand. So they have Polestar and Volvo EV’s…..why Geely?
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Fantastic question, specially with those EVs competing in the same space. The new EX60 is a no brainer compared to the current Polestar 3. I prefer the look of the Polestar, but even with this year's update, they are still far behind on what Volvo is doing on their latest EVs.
 
A perplexing experience that might presage challenges as Lucid tackles the broader market:

> I took my 2022 AGT into service this morning at the Scottsdale SC. The appointment is for a "Schedule A" annual maintenance. It was scheduled 4 months ago.
> the check-in went fine, and Lucid booked me an Enterprise rental.
> so, I casually asked, "what time can I pick up my car?", the answer, "in about 2 weeks!" It was unreal!

Before you jump all over me:

> "Schedule A" maintenance is the light-touch one.
> I have another car, and I also have the Enterprise rental. And I live 4 miles from the SC. So, there is no "hardship" per se.
> But this is not going to fly when Lucid tackles the mid-size market.

I have a very good relationship with the Scottsdale SC, and I like the staff there. It seems to me that staffing cutback and other service problems have the SC is overwhelmed.

This kind of performance is atypical for the Scottsdale SC. The ONLY TIME I had to leave my AGT there for overnight service was 2 weeks after I took deliver in Oct 2022...Lucid had to replace the battery and the Wunderbox as the car won't charge at my home.

I hope the new CEO and his staff take service seriously. Protracted services in a mass market (mid-size) is a deal-killer!
 
Scottsdale Service center told me that the schedule A service can be done by a mobile tech. The only caveat was that if he found something he couldn't do (wheel alignment was the example used), He can check it but if out of spec, it would have to go to the sc to be fixed.
Schedule B service has to be done at the sc.
 
Coyote said:
Scottsdale Service center told me that the schedule A service can be done by a mobile tech. The only caveat was that if he found something he couldn't do (wheel alignment was the example used), He can check it but if out of spec, it would have to go to the sc to be fixed.
Schedule B service has to be done at the sc.
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I think that's correct. Actually, I had a Schedule A done by a mobile tech a couple of years ago when my Lucid was at my home in Marin County. They dispatched a mobile tech from San Mataeo.

But I was so surprised that when I show up for my appointment at the Scottsdale SC, they said it will take 2 weeks (I presume before they get to it). Then, they rented me an Enterprise car for 2 weeks while my AGT (presumably) will sit on the SC's lot for two weeks before they get to it. Else, I could rebook an appointment (after I booked my current one 4 months ago). If this is the norm, the prevailing situation is bad for Lucid and bad for the customers!

If this is the norm because of overweened SC's and staff cutback, this is a BIG PROBLEM!
 
BS8899 said:
I think that's correct. Actually, I had a Schedule A done by a mobile tech a couple of years ago when my Lucid was at my home in Marin County. They dispatched a mobile tech from San Mataeo.

But I was so surprised that when I show up for my appointment at the Scottsdale SC, they said it will take 2 weeks (I presume before they get to it). Then, they rented me an Enterprise car for 2 weeks while my AGT (presumably) will sit on the SC's lot for two weeks before they get to it. Else, I could rebook an appointment (after I booked my current one 4 months ago). If this is the norm, the prevailing situation is bad for Lucid and bad for the customers!

If this is the norm because of overweened SC's and staff cutback, this is a BIG PROBLEM!
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BTW, Schedule A service costs between $325-$350. Renting me a car for 2 weeks from Enterprise PLUS the service will cost Lucid a lot more than that!

In the end, Lucid will lose money. The customer is not happy. Why is this a good practice?!
 
I agree. Let's hope that the new CEO addresses this right away. It is deplorable to have to leave a car for two weeks for a two hour inspection. :rolleyes:
 
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