Q1 deliveries much worse than expected

[borski]

Wonder how they found that out, and aren’t you supposed to have quality control on all supplier parts before installation- at least to make sure they conform to agreed on design?

Yes, but sometimes mistakes happen. Especially when the supplier changes a process you’ve approved without telling you they’ve changed it.

 

[borski]

I think it's more like 2 steps forward 3 steps back. The moment they start to get momentum they tend to get in the way and mess it up again and at some point in time, Lucid needs to stop blaming everyone else for their woes and accept the fact that they're playing a role in these constant missteps. Sick of hearing its the suppliers fault in every single earnings call.

Two things can be true at once. It can both be a supplier’s fault and Lucid’s fault. In fact, you may also be sick of hearing about it.

Three things can be true!

 

[gaskiller]

I need to see them consistently overdeliver (ie exceed their quarterly deliveries or raise delivery guidance and earnings) for 2 quarters to see any movement of the stock to get momentum...Instead they continue to make mistakes that seem to be recoverable from but delaying all their progress, very much 3 steps forward 2 steps backward....

Yeah, management needs to get their act together! It’s mistake after mistake. Wall Street has no confidence in their leadership, hence all time lows every quarter. They have more confidence in Rivian which is x6 market cap of Lucid despite expected x3 sales. Shows you how bad Lucid leadership is.

 

[gaskiller]

Yeah, management needs to get their act together! It’s mistake after mistake. Wall Street has no confidence in their leadership, hence all time lows every quarter. They have more confidence in Rivian which is x6 market cap of Lucid despite expected x3 sales. Shows you how bad Lucid leadership is.

May earnings will be another leadership disaster……they never had a positive quarter, always a sell off!

 

[gaskiller]

Two things can be true at once. It can both be a supplier’s fault and Lucid’s fault. In fact, you may also be sick of hearing about it.

Three things can be true!

Who would you give the benefit of doubt, Lucid leadership or suppliers? Irrespective of who is responsible, Lucid executives need to get their act together.

I am concerned they fired employees and their sales team don’t seem to be hungry for customers, service will be swamped again with the seat recall.

 

[borski]

Who would you give the benefit of doubt, Lucid leadership or suppliers?

I am not in the business of pretending I know things I don't, so I would say they are equally likely to have screwed up, since I have no other data. I would posit that you also have absolutely no idea, and should not make uneducated guesses as to who did what, when, how, and why.

Irrespective of who is responsible, Lucid executives need to get their act together.

I am concerned they fired employees and their sales team don’t seem to be hungry for customers, service will be swamped again with the seat recall.

I think you have made your opinion on this abundantly clear. And I don't think you'll find anyone saying the buck doesn't, ultimately, stop with Lucid. That does not preclude the supplier from also having lied and/or screwed up.

As I mentioned: multiple things can be true at once. If you cannot agree on that, then I will politely agree to disagree and end the conversation here. For the record, I feel similarly about your other 'pro Lucid' posting, lest anyone accuse me of being one-sided.

People like to draw conclusions from information they've invented, often, but it is almost always a mistake.

Just my $.02 (feel free to use it to buy some shares, lol)

 

[gaskiller]

I am not in the business of pretending I know things I don't, so I would say they are equally likely to have screwed up, since I have no other data. I would posit that you also have absolutely no idea, and should not make uneducated guesses as to who did what, when, how, and why.


I think you have made your opinion on this abundantly clear. And I don't think you'll find anyone saying the buck doesn't, ultimately, stop with Lucid. That does not preclude the supplier from also having lied and/or screwed up.

As I mentioned: multiple things can be true at once. If you cannot agree on that, then I will politely agree to disagree and end the conversation here. For the record, I feel similarly about your other 'pro Lucid' posting, lest anyone accuse me of being one-sided.

People like to draw conclusions from information they've invented, often, but it is almost always a mistake.

Just my $.02 (feel free to use it to buy some shares, lol)

Agree, multiple things can be true, but Lucid executives don’t have the liberty to allow others to make mistakes, they should be making sure that doesn’t happen….their company performance is so dismal that they should be executing perfectly, not scoring own goals every quarter. So much for investors day……frankly, I don’t really care anymore what their 5 year plans are, they can’t figure out sales/production of two very compelling vehicles. And one of them is an SUV! They can’t stand behind…..” well, nobody buys a sedan anymore” argument…

Get those damn amazing vehicles sold! Why is that so difficult! It’s not like they are selling bad vehicles.

 

[DBV]

I think it's more like 2 steps forward 3 steps back. The moment they start to get momentum they tend to get in the way and mess it up again and at some point in time, Lucid needs to stop blaming everyone else for their woes and accept the fact that they're playing a role in these constant missteps. Sick of hearing its the suppliers fault in every single earnings call.

Totally agree with you. They need to get to a point where consumers have total confidence in the car/software and that they can drive it anywhere without issues. They need to get to that point quickly, because once it goes to the masses with a a small SUV, they can’t make these same mistakes or they will have a hard time making it.

 

[borski]

Agree, multiple things can be true, but Lucid executives don’t have the liberty to allow others to make mistakes, they should be making sure that doesn’t happen….

A great baker with bad flour still makes a bad cookie.

And yes, I agree that they should source their flour better.

I’m also certain they agree with that too.

 

[gaskiller]

Totally agree with you. They need to get to a point where consumers have total confidence in the car/software and that they can drive it anywhere without issues. They need to get to that point quickly, because once it goes to the masses with a a small SUV, they can’t make these same mistakes or they will have a hard time making it.

Hope they do….its like any positive news is swamped by one negative. Algorithms see all the negative news being pumped out by shorts, and share price go down. This creates more lack of confidence.

Navellier and associates is a good example- they pushed out negative articles on Lucid every few days, through investor place website. Now, silence from them. They made their money shorting Lucid till 2024/2025 and now moved on. You don’t see any such articles published by his cronies.

24/7 WallStreet has now started publishing negative articles every few days.

Lucid gives too much ammunition to these short sellers- Lucid leadership makes it too easy….fumble after fumble….quarter after quarter….

Just sell those damn vehicles, you got world luxury car if the year award twice, and many other accolades….how difficult can it be?

 

[prgarg]

A great baker with bad flour still makes a bad cookie.

And yes, I agree that they should source their flour better.

I’m also certain they agree with that too.

Or maybe the ovens they are sourcing are causing them to deliver half baked goods

 

[TahoeMichael]

Wonder how they found that out, and aren’t you supposed to have quality control on all supplier parts before installation- at least to make sure they conform to agreed on design?

Either they did a supplier inspection and discovered the unapproved change, or someone had an accident and the seat failed. I hope it was the former.

 

[borski]

Or maybe the ovens they are sourcing are causing them to deliver half baked goods

this made me lol, thx, I needed that

 

[tmichael]

Either they did a supplier inspection and discovered the unapproved change, or someone had an accident and the seat failed. I hope it was the former.

The NHTSA report indicates Lucid was doing testing unrelated to the weld and found it to have been changed by Camao in an unauthorized manufacturing change by Camao.

 

[BS8899]

This thread was/is about Lucid's Q1 miss.

Lucid's posture seems to suggest that the major impact was the Gravity seat buckle issue, leading to factory rework/recall hence the low ship out number. I am not sure that's true for other EV manufacturers.

Assuming Lucid Gravity's reception is strong as Lucid implies by not changing the 2026 goals, Q2 shipment would be significantly above average?

 

[tmichael]

This thread was/is about Lucid's Q1 miss.

Lucid's posture seems to suggest that the major impact was the Gravity seat buckle issue, leading to factory rework/recall hence the low ship out number. I am not sure that's true for other EV manufacturers.

Assuming Lucid Gravity's reception is strong as Lucid implies by not changing the 2026 goals, Q2 shipment would be significantly above average?

Amid a continued ramp up of production, presuming there are the orders on hand. They were no where near nominal production rate for Gravity - ramp up can last up to a year for a new vehicle. The order book is something I would really like to see....

 

[BS8899]

Amid a continued ramp up of production, presuming there are the orders on hand. They were no where near nominal production rate for Gravity - ramp up can last up to a year for a new vehicle. The order book is something I would really like to see....

I was at the Scottsdale SC earlier this week. There were lots of cars there. Not a single Gravity. They were all Airs. Not sure if that's good or bad. Perhaps Gravity models are new and don't need service yet!

I've been to the Scottsdale SC many times over the past 3-1/2 years. This time, there was only 1 person in the office. He (came from Tesla) was very nice and answered my question and helped me reboot/fix some annoying issues. In the past, there was a receptionist and 3-4 people in the office. Don't know if those folks are still around.

 

[BS8899]

I was at the Scottsdale SC earlier this week. There were lots of cars there. Not a single Gravity. They were all Airs. Not sure if that's good or bad. Perhaps Gravity models are new and don't need service yet!

I've been to the Scottsdale SC many times over the past 3-1/2 years. This time, there was only 1 person in the office. He (came from Tesla) was very nice and answered my question and helped me reboot/fix some annoying issues. In the past, there was a receptionist and 3-4 people in the office. Don't know if those folks are still around.

I should mention:

> Lucid's Showroom is in Scottsdale Fashion Square, about 2-3 miles from the Service Center.

> I believe all new cars are picked up by the customers at the Service Center, not at the Showroom (which is in a mall). That was why I was surprised to see many Airs at the SC but not a single Gravity. Perhaps they are busy reworking the seat belt buckles backa t the factory.

 

[socktucker]

Yes, but sometimes mistakes happen. Especially when the supplier changes a process you’ve approved without telling you they’ve changed it.

And credit to Lucid, they caught it during testing. The manufacturer did not.

I haven’t heard anything about the supplier disputing it either.

 

[gaskiller]

And credit to Lucid, they caught it during testing. The manufacturer did not.

I haven’t heard anything about the supplier disputing it either.

Well, they lost a lot of market value from the supplier stupidity…wonder if they will sue.