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Lucid Q1 Financials and Forward Looking

They suspended guidance which means they may change this year's production targets. It seems like they are going to adjust down in Q2 earnings because they talked about aligning production with demand. Sounds like demand isn't there.....
 
The_Don said:
They suspended guidance which means they may change this year's production targets. It seems like they are going to adjust down in Q2 earnings because they talked about aligning production with demand. Sounds like demand isn't there.....
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I didn't attend the call, but that sounds like a sensible step.
 
BS8899 said:
I didn't attend the call, but that sounds like a sensible step.
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Agree, though definitely not a good fact that Gravity demand is weak. They were banking on demand to improve margins as they worked towards midsize production. Ultimately this means they're going to run into liquidity issues towards the end of this year.
 
The_Don said:
Agree, though definitely not a good fact that Gravity demand is weak. They were banking on demand to improve margins as they worked towards midsize production. Ultimately this means they're going to run into liquidity issues towards the end of this year.
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I understand. I always thought Lucid was over-positioning Gravity's potentials. The market for $100,000 vehicles is limited, and there are viable competitors!
 
BS8899 said:
...The stiff-upper-lip still says they are not changing their production and sales goals? That's a "Brass-balls" approach.
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What else could he say? "We are circling the drain but hope to pull out of it?"
 
L-Dude said:
What else could he say? "We are circling the drain but hope to pull out of it?"
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It is (obviously) not the current CEO's fault. That said, as a seasoned engineer and industrialist, the new CEO should be aware of what he is walking into.

Now, he has to fix it. He needs to take bold actions and soon. There is no time to fool around.

Lucid was/is on a hallucinogenic financial drug called "PIF", commonly known by its street name as "Sugar-Daddy!".

Unlike its competitors, Lucid does not offer a broad range of products and affiliated services. People on this forum seem surprised that 1/2 of Rivian's revenue was from Amazon. Where have they been?! It is a good thing, not a bad thing!

Significant downward revision of goals is inevitable. Lucid has good technologies, though not as good as they touted them to be. Focus on making fine and reliable products. Provide high-quality services. Build alliances. PIF is not the long-term answer!
 
BS8899 said:
I understand. I always thought Lucid was over-positioning Gravity's potentials. The market for $100,000 vehicles is limited, and there are viable competitors!
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And I don’t think as many people cared (or understood) about their efficiency as they hoped.

Compared to legacy luxury brands, the Gravity is lame inside. Things like “Sanctuary” are totally stupid compared to how BMW does it, for example. They should just take that out instead of having a lame version.

Another example, I tried Lucid Assistant using its recommended prompt “what is Lucid Dream Drive and How Does it Work?” And it gave the dumbest nonsensical answer about “super technology” and no info on how to use it or what it does. Who approved that?!? Just some disappointing stuff.

Did they say nothing about the midsize? The AI versions I’ve seen look great. Imagine a Lucid Model Y, that would be awesome.
 
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socktucker said:
And I don’t think as many people cared about their efficiency as opposed to doors opening and getting the car and going “wow!” Compared to legacy luxury brands, the Gravity is lame inside. Things like “Sanctuary” are totally stupid compared to how BMW does it, for example.
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I "think" I agree with you vis-a-vis, "And I don’t think as many people cared about their efficiency as opposed to doors opening and getting the car and going “wow!”"

I "love" my Rivian because when I walk up to it, I know it will unlock, gracefully, and I will drive away safely and uneventfully.

When I walk up to my Lucid, most of the time the car won't unlock, the driver's seat doesn't remember my settings, the Lucid will ask for my PIN, and the pilot panel will go blank or lock up.

Is the Lucid more efficient and more fun to drive than my Rivian? Yes, but who cares!
 
socktucker said:
And I don’t think as many people cared (or understood) about their efficiency as they hoped.

Compared to legacy luxury brands, the Gravity is lame inside. Things like “Sanctuary” are totally stupid compared to how BMW does it, for example. They should just take that out instead of having a lame version.

Another example, I tried Lucid Assistant using its recommended prompt “what is Lucid Dream Drive and How Does it Work?” And it gave the dumbest nonsensical answer about “super technology” and no info on how to use it or what it does. Who approved that?!?

Idk if my loaner GGT is broken but the stowed third row seats bang up and down over every speed bump, there’s lots of little annoyances. The center console sliding tray…squeaks. Now I’m sure it’s a beast on a track but when it’s a pain to use to go to work, I don’t care!

Did they say nothing about the midsize? The AI versions I’ve seen look great. Imagine a Lucid Model Y, that would be awesome.
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I think its 2027 now. This answers why they cant show the Cosmos yet to public. And now they dont know until end of Q2 how many car they plan to makes. This makes me believe they may have 4 to 5k in inventory and cant afford to make any more. Even the Q1 number are skewed with employee offers.
 
sri said:
I think its 2027 now. This answers why they cant show the Cosmos yet to public. And now they dont know until end of Q2 how many car they plan to makes. This makes me believe they may have 4 to 5k in inventory and cant afford to make any more. Even the Q1 number are skewed with employee offers.
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I slightly edited my post but yes. They’ve got inventory sitting around. I have owned a few six figure cars and the Gravity just isn’t up to par with the experience. Fit and finish, convenience and reliability isn’t there. If it was 50k? Alright. Now we are Model Y priced and it’s okay to have some growing pains. But 100k?? No way. And the market said no way.

I wonder what the path forward looks like? And I mean that literally, do they slow Gravity production and clear out some of the excess? There are parts of the design that are truly brilliant and it can be a good car but not in its current state.

I’ve heard from ex employees that the service supply chain is also a huge problem, maybe the biggest one, and I’m wondering if the new CEO was picked to help fix that. I don’t want a flashy loud CEO, I don’t even care if he’s a car guy. Can he fix a supply chain? If so, he could be the ticket.
 
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BS8899 said:
When I walk up to my Lucid, most of the time the car won't unlock, the driver's seat doesn't remember my settings, the Lucid will ask for my PIN, and the pilot panel will go blank or lock up.
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I think that there is a lot of exaggeration in your "most of the time" statement. My software is very stable and it is very rare that it takes more than two seconds to unlock and even more rare to have seat or screen issues in my Air.
 
Well they burned extra cash and dug themselves a hole in Q1, so the review the new CEO is going to make is actually assessing whether they are ready for mid-size. I think they should delay it a quarter, release it in Nov at the LA auto show and then start taking orders. No token production in the last day of 2026, and make sure it all works. That will save some cash both upfront and any rework they have to do if they botch something. Then take a look at Q2 and see if they have to revise production down. It sounded like they are under by about 2K right now, but the Air also is down a lot based on Q1 sales.
 
Adnillien said:
I think that there is a lot of exaggeration in your "most of the time" statement. My software is very stable and it is very rare that it takes more than two seconds to unlock and even more rare to have seat or screen issues in my Air.
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I have same issue, it wont open 90% of time. Working for you doesn't mean its working same for all.
I have screen blanks eveytime i get into my car. Like 95% of the time. I reported this and i was redirected to wait for software fix which is never or pay for CCV2 which is not free.
 
socktucker said:
I slightly edited my post but yes. They’ve got inventory sitting around. I have owned a few six figure cars and the Gravity just isn’t up to par with the experience. Fit and finish, convenience and reliability isn’t there. If it was 50k? Alright. Now we are Model Y priced and it’s okay to have some growing pains. But 100k?? No way. And the market said no way.

I wonder what the path forward looks like? And I mean that literally, do they slow Gravity production and clear out some of the excess? There are parts of the design that are truly brilliant and it can be a good car but not in its current state.

I’ve heard from ex employees that the service supply chain is also a huge problem, maybe the biggest one, and I’m wondering if the new CEO was picked to help fix that. I don’t want a flashy loud CEO, I don’t even care if he’s a car guy. Can he fix a supply chain? If so, he could be the ticket.
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The Gravity launch issues are not as bad as the Air and the Air is selling better than any car in its class. I expect Gravity will do the same.
 
Adnillien said:
I think that there is a lot of exaggeration in your "most of the time" statement. My software is very stable and it is very rare that it takes more than two seconds to unlock and even more rare to have seat or screen issues in my Air.
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Since you live close to me, I'd welcome you to come by sometime to experience it yourself.

There is a night-and-day difference between the robustness of Rivian vs Lucid-Air SW!
 
sri said:
I have same issue, it wont open 90% of time. Working for you doesn't mean its working same for all.
I have screen blanks eveytime i get into my car. Like 95% of the time. I reported this and i was redirected to wait for software fix which is never or pay for CCV2 which is not free.
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Just pay for the updated computer, you paid what, 100 k for the car?
 
BS8899 said:
Since you live close to me, I'd welcome you to come by sometime to experience it yourself.

There is a night-and-day difference between the robustness of Rivian vs Lucid-Air SW!
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My lucid is rock solid now. Why don’t come by my house and I’ll show you.
 
gaskiller said:
My lucid is rock solid now. Why don’t come by my house and I’ll show you.
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Sure. Give me a FOB and let me have it for 30 days. I promise I will change my mind. Deal?!
 
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