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LCID 2021 Q4 Earnings

steveairgt said:
FYI. In one of the Lucid Investors Facebook groups I’m in someone posted that they were in a studio and one of the advisers/reps told him that Lucid delivered 220 vehicles in 2021.
Click to expand...
That sounds about right.
 
I agree. That’s about what I thought between 200-250. But I’m surprised he actually said it. Other studios told people they weren’t allowed to say.
 
steveairgt said:
FYI. In one of the Lucid Investors Facebook groups I’m in someone posted that they were in a studio and one of the advisers/reps told him that Lucid delivered 220 vehicles in 2021.
Click to expand...
On Facebook? Praying for that individual. They're going to eat him alive for saying any less than 577 deliveries were made in 2021.
 
Anyone dialing into the Q4 earnings call this afternoon/evening? If so, please post your impressions and thoughts. I'm curious what questions if any they will address.
 
ir.lucidmotors.com

Lucid Announces Fourth Quarter and Full Year 2021 Financial Results, Updates 2022 Outlook | Lucid Group, Inc.

- Customer reservations now exceed 25,000, reflecting potential sales of more than $2.4B - Inaugural customer deliveries of the 2022 MotorTrend Car of the Year®, the Lucid Air, are underway, starting with the sold-out Dream Edition - Production exceeds 400 vehicles as of February 28, 2022, with 125
ir.lucidmotors.com ir.lucidmotors.com

The official document.
125 cars delivered
Goal of 12000 to 14000 this year
 
They have only produced 400 as of today And only 300 deliveries. That surprised me.
 
Stock dropped about $4 per share after hours. Not surprised with that with the bad production and delivery numbers, as well as the lowered guidance.
 
Neurio said:
ir.lucidmotors.com

Lucid Announces Fourth Quarter and Full Year 2021 Financial Results, Updates 2022 Outlook | Lucid Group, Inc.

- Customer reservations now exceed 25,000, reflecting potential sales of more than $2.4B - Inaugural customer deliveries of the 2022 MotorTrend Car of the Year®, the Lucid Air, are underway, starting with the sold-out Dream Edition - Production exceeds 400 vehicles as of February 28, 2022, with 125
ir.lucidmotors.com ir.lucidmotors.com

The official document.
125 cars delivered
Goal of 12000 to 14000 this year
Click to expand...
Wow!! I didn't see that big a miss coming. I really thought they had delivered around 250 cars last year. Dropping the forecast for 2022 was expected.
 
If they're only at 300 deliveries and slightly over 400 produced cars, it would seem Dreams are not done producing and any Sales Advisor saying Q2 for Tourings is delusional.
 
Average selling price is 96,000 per car based on 25k reservations. Unclear if they included all the Dreams in that number or have subtracted out those cars delivered.
 
I also doubt the forecasted number of 12-14k this year.
 
SaratogaLefty said:
Wow!! I didn't see that big a miss coming. I really thought they had delivered around 250 cars last year. Dropping the forecast for 2022 was expected.
Click to expand...
I imagine they must be only counting the truly completed cars in the 400 production and not ones that are waiting for "fit and finish" parts. It seems like all 520 DEs are off the assembly line already.
 
Not good but not surprising. The 25,000 reservations seems low and comes back to no one really knowing who they are. IMO they have a brand recognition problem and now with the misses and revised numbers it probably doesn't help them in generating more reservations. Only 300 cars delivered it pretty bad when comparing them to Rivian.
 
With 10 months left, they new to produce 290 cars per week to reach 12,000 cars. (approx.) That's over 50% of what they've produced TO DATE.
 
mnewber1 said:
If they're only at 300 deliveries and slightly over 400 produced cars, it would seem Dreams are not done producing and any Sales Advisor saying Q2 for Tourings is delusional.
Click to expand...
Agree. Also in a back of the envelope calculation, the number of GTs reserved is about 2.5 the number of Pures. How many? Depends on the number of the Tourings. The aveage selling price is about what a Touring costs. If the ratio of GT:T : P is 1 : 2 : 2.5, then there are roughly 4500 GT reservations. If the Gts are in the same numbers as the Pures, then there are only about 4000 AGTs.
 
Sandvinsd said:
Agree. Also in a back of the envelope calculation, the number of GTs reserved is about 2.5 the number of Pures. How many? Depends on the number of the Tourings. The aveage selling price is about what a Touring costs. If the ratio of GT:T : P is 1 : 2 : 2.5, then there are roughly 4500 GT reservations. If the Gts are in the same numbers as the Pures, then there are only about 4000 AGTs.
Click to expand...
I wish they would disclose these ratios.
 
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