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Lucid sells 150 vehicles in March 2022

Unfortunately, we can probably this an unreliable source. The cited website also states Lucid sold 299 in January, which isn't true because on February 28, 2022 they stated they had sold 300 cars to date (November 2021 - February 2022).

Screen Shot 2022-04-14 at 9.59.57 AM.png
 
From the "flash reports":
Jan 2022: 299
Feb 2022: 135
Mar 2022: 150

A total of 434 for Jan-Feb 2022 and 584 vehicles for Jan-Mar 2022.

However the report's aggregate listed total for Jan-Feb 2022 is 310 and Jan-Mar 2022 is 460. I wonder what exactly constitutes a sale (confirmation? payment? delivery?) and whether we can make a guess about buyer attrition, since it looks like sales initially listed here are apparently later reversed.

Edit: @mnewber1 makes an excellent point. This company's data is suspect.
 
Where are those numbers coming from? Lucid has not publicly disclosed any specific Q1 deliveries as far as I am aware of. It’s not that I don’t believer them, I agree that the deliveries have been poor. As I said in another post, it’s not just grey and silver harmonization. That is just messing with their delivery order and forcing many customers to be delayed more than they should while more recent orders go through. But it is that they are not even running the factory lines fast enough with the black, white and red cars. Less than 10 cars a day is not going to cut it if this company is going to make it long term. They really need to focus on the plant production issues rather than developing new trims with higher horsepower.
 
The website's cited source is themselves, lol.

"Source: MarkLines Data Center"
 
idiot900 said:
From the "flash reports":
Jan 2022: 299
Feb 2022: 135
Mar 2022: 150

A total of 434 for Jan-Feb 2022 and 584 vehicles for Jan-Mar 2022.

However the report's aggregate listed total for Jan-Feb 2022 is 310 and Jan-Mar 2022 is 460. I wonder what exactly constitutes a sale (confirmation? payment? delivery?) and whether we can make a guess about buyer attrition, since it looks like sales initially listed here are apparently later reversed.

Edit: @mnewber1 makes an excellent point. This company's data is suspect.
Click to expand...
Whatever the real numbers are, I think we can all agree that they are NOT GOOD. They are likely in the 10 a day or less that they were doing back in 2021 with the Dreams. Not exactly a “ramp up”
 
I feel that these numbers might not be exact but I bet we can all agree Lucid is not yet on track to deliver even their lowered guidance of 12,000-15,000 for this year.

At this rate they may not get to 6,000-8,000 vehicles this year.

Can’t imagine how the market would react to yet another lowering of guidance.

They have to address it in the upcoming ER. Some analyst will ask that given what they’ve seen of Q1, what do they foresee as the 2022 guidance now?
 
Sandvinsd said:
We have now finished Q1-2022. Many customers who confirmed orders back in November 2021 have still heard nothing about VIN assignments, let alone deliveries, meaning that they are now looking at a 7 month delivery window, minimum. Obviously the ramp-up to 20,000 and the revised 12-14k vehicles this year is just not happening. Some questions:

How many Dream Editions are still waiting to be delivered 3 months after they were to have been completed?
How many GT cars were delivered in Q1?
What should the new, revised-revised year end estimates be?
Click to expand...
See my earlier post I’m the investors thread.^*^*^

I’ve been saying that they have problems in the plant and it is not just paint harmonization. Their ramp up is not happening and there is no way they will meet their lower revised numbers. Im an investor, but expect the stock to take a further hit.
 
Sandvinsd said:
See my earlier post I’m the investors thread.^*^*^

I’ve been saying that they have problems in the plant and it is not just paint harmonization. Their ramp up is not happening and there is no way they will meet their lower revised numbers. Im an investor, but expect the stock to take a further hit.
Click to expand...
Your an investor? Keep posting this way and your stock should shoot up for sure!
 
If the production is so slow why are they confirming orders so far ahead of actual production. Last week I upgraded from Touring to Grand Touring and 3 days later was allowed to officially confirm the order. Since I now cannot get my deposit back I guess they assume I will wait forever for a VIN and actual production. Is this just a business ploy to lock buyers in?
 
It really does seem like their production has ramped up. Every single SC is packed with cars and there are a bunch still left to ship out. It wasn't like this even a month ago, so they are increasing their production capability...even if it's not grey or silver painted cars
 
How many people were in the early days of Tesla ?

Ramp-up is hard - even for existing ICE makers (see GM, Ford ...).

That said, delivery is not linear. If they were able to deliver only 5 cars/day a month ago, and 10 cars/day last week, and 12 cars/day now, then few months from now, you can't just assume it will be 12 cars/day. It's more likely 100-200 cars/day. The bottleneck, once sold, would allow production to be ramped up significantly.

They're not constrained by facility & workforce (that will keep delivery fixed at low numbers). They have some bottleneck w/ supply chain (paint, carpet, glass....), once solved, the numbers can change drastically
 
I’d say this is suspect at best. I went to the goose island facility in Chicago to see the zenith red in person as I confirmed my color combo sight unseen but started having second thoughts about the red and maybe changing to black so they let me look around. The service center was completely filled with cars being prepared for delivery. So I’d say they’re ramping up for sure
 
MPawelek said:
If the production is so slow why are they confirming orders so far ahead of actual production. Last week I upgraded from Touring to Grand Touring and 3 days later was allowed to officially confirm the order. Since I now cannot get my deposit back I guess they assume I will wait forever for a VIN and actual production. Is this just a business ploy to lock buyers in?
Click to expand...
I imagine you'll be hearing from a DA soon with an estimate of your production start date. My guess is that it'll be sooner than you expect.
 
They better ramp up more quickly with all the bigger auto mfg’s going EV or will be hard to survive or maybe get bought out. It will be a super competitive market very soon, which is awesome for consumers. I know Tesla had ramp up issues too at first, but they were the only ones forever and the market is totally different now.
 
Sandvinsd said:
See my earlier post I’m the investors thread.^*^*^

I’ve been saying that they have problems in the plant and it is not just paint harmonization. Their ramp up is not happening and there is no way they will meet their lower revised numbers. Im an investor, but expect the stock to take a further hit.
Click to expand...
I'm also an investor, supply chain issues are an issue for most auto manufacturers right now. I'm not concerned yet, in fact I think I should buy on this dip.
 
Steveinarizona said:
Exactly. Most car makers are sold out of EVs. Ford even cancelled the wait list on the F150 lightning.
Click to expand...
Stopped taking new deposits, but existing waitlist customers are still on the list?
 
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