Missed Q2 2023 Production and Delivery Numbers

[MorganB]

When comparing with Rivian, the negative thing about Lucid is sales.

Rivian already has a safety fall back order from Amazon.

It has more sales.

More sales means more cash.

More cash from sales mean more production to meet demand.

Lucid just got cash infusion but that cash is not from car sales, not from the demand.

Rivian cash from sales is different from Lucid cash from rescuers.

Incorrect. Rivian cash isnt from sales. Rivian expects a 4.3 billion dollar loss for 2023. Rivian cash is from investors just like Lucid. Rivian has a 100,000 unit van order from Amazon, a major investor in Rivian. Lucid has a 100,000 unit Air order from Saudi PIF, a major investor. Rivian just happened to get a massive pile of cash up front whereas Lucid is getting it on an as needed basis. This was all expected in the 10 year ramp up for LUCID.

 

[blueice89]

When comparing with Rivian, the negative thing about Lucid is sales.

Rivian already has a safety fall back order from Amazon.

It has more sales.

More sales means more cash.

More cash from sales mean more production to meet demand.

Lucid just got cash infusion but that cash is not from car sales, not from the demand.

Rivian cash from sales is different from Lucid cash from rescuers.

I don’t think you can really compare. lucid is luxury car it takes time to build , good materials , glass roofs, massaging chairs. It takes time to assemble all that. Rivian is more like Tesla box on wheels and some nice software. You should be comparing to say Mercedes production etc or Luxury ev maker who also makes battery Cells.

 

[Tâm]

Incorrect. Rivian cash isnt from sales. Rivian expects a 4.3 billion dollar loss for 2023. Rivian cash is from investors just like Lucid. Rivian has a 100,000 unit van order from Amazon, a major investor in Rivian. Lucid has a 100,000 unit Air order from Saudi PIF, a major investor. Rivian just happened to get a massive pile of cash up front whereas Lucid is getting it on an as needed basis. This was all expected in the 10 year ramp up for LUCID.

That still doesn't explain why Rivian didn't sell additional shares and Lucid just did.

Both companies are losing money and profits are not expected for a while but there is an expectation for sales growth.

 

[Tâm]

I don’t think you can really compare. lucid is luxury car it takes time to build , good materials , glass roofs, massaging chairs. It takes time to assemble all that. Rivian is more like Tesla box on wheels and some nice software. You should be comparing to say Mercedes production etc or Luxury ev maker who also makes battery Cells.

Agreed.

It's a very tough market to get sales volume in the luxury class.

 

[hs22]

• In 2022, Tesla sold 176,372 Model S vehicles, a 1426.37% increase from 2021
• In 2022, Tesla sold 31,371 Model X vehicles, a 329.39% increase from 2021

Just to set the facts right here are the S+X numbers from Tesla. They don't publish the split though but I see more S's than X on the road in NorCal.

Model S/X	Production	Deliveries
2022	71,177	66,705
2021	24,390	24,964

Tesla Vehicle Production & Deliveries and Date for Financial Results & Webcast for Fourth Quarter 2022 | Tesla Investor Relations

AUSTIN, Texas, January 2, 2023 – In the fourth quarter, we produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew 40% YoY to 1.31 million while production grew 47% YoY to 1.37 million.

ir.tesla.com

Tesla Q4 2021 Vehicle Production & Deliveries | Tesla Investor Relations

AUSTIN, Texas, January 2, 2022 – In the fourth quarter, we achieved production of more than 305,000 vehicles and deliveries of over 308,000 vehicles. In 2021, we delivered over 936,000 vehicles.

ir.tesla.com

 

[blueice89]

Once Cybertruck is online Rivian will feel pressure their competition is very small now

 

[methrow25]

That still doesn't explain why Rivian didn't sell additional shares and Lucid just did.

Both companies are losing money and profits are not expected for a while but there is an expectation for sales growth.

They may not have sold additional shares, but they did sell convertible notes that may end up as new shares. https://www.cnbc.com/2023/03/07/rivian-notes-fundraise-ev-demand.html

 

[Genghis]

This discussion is going sideways. The point is that they missed both their delivery and production numbers when they said Q1 was going to be down but they expected Q2 to uptick from Q1. They reduced estimates for 2023 to produce 10k vehicles but they still have some major headwinds now with 2 down quarters.

Q2 earnings is in a few weeks that will give better guidance on the 2nd half of the year and upcoming catalysts.

 

[hydbob]

This discussion is going sideways. The point is that they missed both their delivery and production numbers when they said Q1 was going to be down but they expected Q2 to uptick from Q1. They reduced estimates for 2023 to produce 10k vehicles but they still have some major headwinds now with 2 down quarters.

Q2 earnings is in a few weeks that will give better guidance on the 2nd half of the year and upcoming catalysts.

Agreed. Posts no more!