Lucid future and possible consequences

[Bill55]

I am wondering how many Lucid owners put more than 10,000 miles on their cars. I am from Chicago and yesterday I attended the Holiday event hosted by Lucid in goose Island. I have more than 10,000miles on my car and there I met a guy from Wisconsin that has 11,000 miles on his Lucid.

I am very happy with my GT and it is best car I ever had in many respects. I met the CFO and they are all very confident about the future of Lucid

14k

 

[DeaneG]

But have they added anything significant functionally?

They did get around to adding charge timing and Carplay after 12-18 months. Also some new third-party apps including Tidal. No Waze or Pandora. No Summon mode. No Sentry mode.

 

[Mr_rhythm]

That’s the difference between a cool, calm restrained Brit and a perpetually lying Afrikaner emerald miner’s son

He’s not wrong though

 

[nevadagame]

They did get around to adding charge timing and Carplay after 12-18 months. Also some new third-party apps including Tidal. No Waze or Pandora. No Summon mode. No Sentry mode.

What do you mean …they added CarPlay?

 

[SDHacker]

What do you mean …they added CarPlay?

You see that @DeaneG was replying to @chinesejpl? Click the up arrow next to "chinesejpl said" and it will take you to the comment Dean was replying to so you have the context you are looking for.

 

[nevadagame]

You see that @DeaneG was replying to @chinesejpl? Click the up arrow next to "chinesejpl said" and it will take you to the comment Dean was replying to so you have the context you are looking for.

Thanks, I understand now, I got excited for a minute

 

[DeaneG]

Looks like Lucid just extended their runway quite a bit, no worries about cash for the near future:

Lucid Group, Inc. Announces Successful Capital Raise of Approximately $1.515 Billion

Lucid Group, Inc. (Nasdaq: LCID; "Lucid") announced today that it has completed its previously announced "at-the-market" equity offering program.

www.yahoo.com

 

[Sam6062]

There are a lot of threads on this, but Ill just say.. I don't think Lucid will even approach bankruptcy. It's been a venture company for many years now, and it wouldn't be abandoned after production is finally ramping. All the institutional and government investors always look at the 10/15/20 year timeline. The stock looks doodoo right now for sure, but that also attracts new investors who see an even better deal and long term return. When in doubt, zoom out, and you'll see Lucid is only -12% overall. Not bad compared to the rest of the market. It does hurt to see it fall and fall, though.

IMO, Even if Lucid went bankrupt and sold for pennies on the dollar, their patents and technology would be scooped up by another auto maker that would continue the Lucid brand.

The Air is an amazing vehicle.. I wouldn't call it "unfinished". It has some minor rough edges, though.

Just remember.. any CEO named Elon also benefits from negative Lucid

The used price market definitely reflects the current sentiment about the Car. This place is definitely not a gauge for the quality of the Car either. The stock Price reflects what the market feels about the viability of the Company.

Unless they bring a sub 50K Car on the market it will be tough sledding. The aura has worn off a little imo. No longer considered Tesla 2.0. Would be interesting to see if they make any changes to the design of the Car in 2023. Seems unlikely because they are busy trying to ramp up production. Once they can build the 90K Cars a year it will show how many 100K+ priced Cars they can sell. Tesla sells what about 30K or less of the Model-S, correct?

 

[HC_79]

The used price market definitely reflects the current sentiment about the Car. This place is definitely not a gauge for the quality of the Car either. The stock Price reflects what the market feels about the viability of the Company.

Unless they bring a sub 50K Car on the market it will be tough sledding. The aura has worn off a little imo. No longer considered Tesla 2.0. Would be interesting to see if they make any changes to the design of the Car in 2023. Seems unlikely because they are busy trying to ramp up production. Once they can build the 90K Cars a year it will show how many 100K+ priced Cars they can sell. Tesla sells what about 30K or less of the Model-S, correct?

I also think the Gravity being delayed to 2024 hasn't helped appease the market either. SUV's just do better in the US so until the market sees a clear path to the Gravity becoming a reality there are probably concerned if the company could actually make it from a cash standpoint to get the Gravity out. I think the $1.5b investment has helped but I don't really expect too much more hype about Lucid untll another model is shown. All pure speculation of course.

Will be definitely interested to see what the appetite is for a $100K+ car in Europe where sedans typically do better than the US.

 

[Sam6062]

I also think the Gravity being delayed to 2024 hasn't helped appease the market either. SUV's just do better in the US so until the market sees a clear path to the Gravity becoming a reality there are probably concerned if the company could actually make it from a cash standpoint to get the Gravity out. I think the $1.5b investment has helped but I don't really expect too much more hype about Lucid untll another model is shown. All pure speculation of course.

Will be definitely interested to see what the appetite is for a $100K+ car in Europe where sedans typically do better than the US.

Good Point but still if we do research how many 100k $ plus Cars actually get bought every Year although it looks like the Larger SUV’s are all getting closer to 100K for top of the line trims.

My brand new 2003 Chevy Suburban LT has a list of 42K. I believe a similar trim obviously with a lot more standard bells and whistles is around 80K and that is the Mid-Level Trim.

 

[borski]

The used price market definitely reflects the current sentiment about the Car.

No, it reflects the used price market. The fact that the last two years resulted in significantly inflated prices for used vehicles was an aberration, not “the new normal.”

Cars are depreciating assets and lose value the moment you drive them, unless they’re classics, in normal times. Lucid is a year old, so definitely not a classic.

The stock Price reflects what the market feels about the viability of the Company.

No, it reflects the fact that every single EV stock is way down, along with tech stocks and the market in general. Lucid is not down significantly more than other similar stocks.

No longer considered Tesla 2.0.

By who?

1 day ago: https://insideevs.com/news/627166/lucid-air-beats-tesla-model-s-all-but-one-thing/

6 days ago: https://www.theverge.com/23509511/lucid-air-gt-review-specs-photos-price

I don’t think Lucid has “lost its charm.” I think the entire market is depressed and attributing anything in a bear market is very difficult.

 

[Sandvinsd]

The layoff thread was closed but I wanted to follow-up on one question asked. What happens if Lucid “disappears” on parts and service? For those with cars on order, you can be confident that Lucid is not going anywhere and that is primarily due to all the reasons you made a reservation in the first place - luxury, performance, efficiency, and distance.

To begin as to why Lucid will continue to be around, they are >60% owned by the deep pocketed Saudis. They have continued to invest in the company and seem willing to continue putting money into their investment and maintain their ownership share. They are having Lucid build a factory in. Saudi Arabia, which is a major commitment and investment. I cannot imagine that they would walk away from their holdings and let Lucid go “kaput”. But let’s take that scenario. Even if the Saudi’s decide to capitulate, what then? Look at the technology and luxury that is Lucid - all the reasons that we have bought the car, and many others have made reservations are valuable. This is a truly a luxury brand. It really is a matter of getting the word out. If the Saudi’s decided they were done (which I highly doubt), Lucid is a valuable for any number of established automakers s their luxury nameplate. They would salivate at getting Lucid, it’s technology, it’s manufacturing plants, etc. for pennies on the dollar. With the deeper pockets of an established automaker and thus the ability to do proper marketing, Lucid sales would soar - and the technology on efficiency would be used in that automaker‘s other lines to improve profitability. In fact, this scenario might be the best for consumers, but maybe not for the current investors.

I still believe that Lucid will make it as an independent automaker, and not just make it and thrive, and will continue to be a shareholder. However, if I lose money on that investment by the Saudi’s taking it private for pennies or being sold in a garage sale to another automaker, I an extremely happy to have the most luxurious, longest range, best driving EV out there. I do not regret my purchase, nor should others be wary about buying one. I would repeat my purchase in a heartbeat. I am confident that I will always have the availability of parts and will always be able to have it serviced. The growing pains and layoffs are difficult for the company, but the pieces are in place for the brand to last a long time.

 

[Steveinarizona]

The other thing that worries me a bit, and perhaps some here can comment on it, is the Lucid used car market. After reading another thread where the poster commented on this issue, I decided to look for myself. My concern was not the price hit these cars have taken, but rather the sheer number of used Lucids on the market. Honestly, I was more than a bit surprised given the low volume of cars produced thus far.

Hopefully it is a sign of the status of the EV market a year ago. Limited products, chip shortages, etc. So folks bought expensive Lucid Airs hoping to turn them around and sell them for a profit. At least, that is what I am hoping is the explanation.

 

[emoylv]

I'm in my 70s and I think Lucid will outlast me lol! That's the only deciding factor. I love the Touring but not wedded to it. I'll most likely replace it with Lucid 3.0 in a few years. I think the next generation will be lighter by at least a thousand pounds with a real world range of 400+ miles. And a heads up display.

 

[kerplunk]

There is a lot of talk about production numbers, but where is Lucid at with actual deliveries? I think that's the important part because it shows demand.

The big concern I have is that I'm going to be left with a car that is mechanically unserviceable if Lucid tanks. Forget about weird software bugs which is something else entirely.

That's the source of my cold feet. A third party buying lucid for the IP doesn't mean they'll honor servicing our cars. So the two options are the Saudis throw good money after bad and for long enough that Lucid can turn things around or Lucid stands up on their two feet.

There is no way to know and it comes down to us rolling the dice. Now I'm thinking about a lease vs buying. But the terms aren't great.

 

[kerplunk]

I'm in my 70s and I think Lucid will outlast me lol! That's the only deciding factor. I love the Touring but not wedded to it. I'll most likely replace it with Lucid 3.0 in a few years. I think the next generation will be lighter by at least a thousand pounds with a real world range of 400+ miles. And a heads up display.

A HUD would have really made this car perfect for me. It's really the one thing I want that it doesn't have. The EQS with the AR arrows for navigation looked very useful.

 

[SDHacker]

Hopefully it is a sign of the status of the EV market a year ago. Limited products, chip shortages, etc. So folks bought expensive Lucid Airs hoping to turn them around and sell them for a profit. At least, that is what I am hoping is the explanation.

I think a lot of it has to do with @MoniputerLM’s chief irritation with the car…the software. While many of us are willing to wait for the software to mature, others expected a fully mature system and were not willing to wait. Others got cars that were victims of a really bad time to be a manufacturer and first year production woes and found the car not worth its price. As some have posted, if you’re not happy with the car, sell it. These people made that choice. I can only speak for my car and experience with it - I am happy with the car. My wife even commented that she’s glad I got the Lucid because I seem happy driving it. Do I wish it had AA and a full suite of native apps? Sure, but it doesn’t detract from the driving experience.

 

[Bocabob]

We all bought a dream. That dream was a car with 500 miles a sexy interior and new technology we all knew it up front maybe some of us had bigger expectations but the reality was it is what it is and alpha product the good news is this alpha product has a lot of Saudi money in it. There's no way that the Saudis are going to lose their money it just take a little bit longer than anticipated so enjoy the ride guys.......

 

[emoylv]

A HUD would have really made this car perfect for me. It's really the one thing I want that it doesn't have. The EQS with the AR arrows for navigation looked very useful.

We have HUD on our Lexus RX450h and love it. Every once in a while, I look down at the dash on the Lucid and see that I'm 10-20+ miles over the speed limit. Not if but when I'm going to get pulled over.

 

[thecodingart]

We do not agree on this. Most owners are extremely happy with their cars; the original deliveries were very lacking in the software department, but that is generally no longer the case. There are some features it lacks, but that’s to be expected.

DreamDrive is on par with most other ADAS systems today on the highway, at least for me.

I fail to understand why non-owners are saying stuff like this and whom is giving them these false impressions. This is hands down a complete product that, like all software, is iterated on over time.