Q1 Earnings Call

[Sandvinsd]

Well, it does seem that GT deliveries have been ramping up a bit in the 1st month of Q2, so hopefully they're prediction is correct.

The pricing for GT-P now makes more sense with the new cost of GT. $25k upcharge is still a lot, but is more palatable than $40k.

It is still a $40k up charge through the end of the month.

 

[rbbarry]

360 is shocking :-(

 

[Pwmac]

I'm not really surprised by the about 100 cars a month deliveries. I was happy to see they didn't further lower guidance and the 30K reservations should keep them busy for awhile. EPS loss was also better than expected so hopefully they are managing costs with this high inflation everyone is facing. Probably another reason for the price increases.

PS my DA emailed me for the 1st time today so I may just be overly excited

 

[OCDC]

In case this got buried on another post, they're hiring for a second shift:

Lucid Motors Hiring Event

Lucid Motors is hosting a hiring event in Chandler

bit.ly

I think there will be a steep knee on the ramp up curve. The question is when it will happen.

 

[Sandvinsd]

360 is shocking :-(

The fact that they blew through all of the November and December batches (except Grey and silver) with deliveries and those only amounted to 360 is telling. There really aren’t that many AGT orders.

 

[joec]

Rawlinson said supply constraints were going to be an issue until AFTER Q2, didn't he? So I'm not totally shocked by the delivery numbers for this Q. But they will really need to ramp to get anywhere near their guidance. It'll be interesting to see how they address that on the call.

 

[HC_79]

My original DA back in February at the time mentioned that GT demand wasn't what was expected and thought they would get to the Touring's and Pure's more quickly which meant all would be coming out this year. From the get go I've always felt Lucid had a pricing problem compared to other luxury automakers and now with the price hike it could potentially make the situation worse.

 

[joec]

The fact that they blew through all of the November and December batches (except Grey and silver) with deliveries and those only amounted to 360 is telling. There really aren’t that many AGT orders.

Which I guess is why they are still predicting Touring to start getting vin numbers in the next month or two. I'd love to see the breakdown between models. I've always assumed the lion's share were Pure.

 

[Whidbey_LucidGT]

We know this much from the Q4 Earnings call on Feb 28th:

“As of year-end 2021, this included 125 cars in customers' hands, while we produced over 400 vehicles in total as of today. And on these, over 300 have now been delivered to customers.

400+ produced (I assume this means low 400’s) in total as of 02/28. Don’t know how many produced in 2021 but obviously more than 125. Just for arguments sake and to keep things simple say 275 produced in Jan/Feb. If it has been 10 cars per day (not saying it is…I really have no idea at all) that would be 275 + 30x10 = 575 for the quarter.

Interesting! So my GT car door is stamped "Manufactured 2/2022", so by this statement I'm in the first 400 produced...?

 

[Whidbey_LucidGT]

Here's some news out of the earnings deck ():
>

 

[Whidbey_LucidGT]

And they are still projecting 12-14k cars produced in 2022, even with the slow Q1 rate.

https://ir.lucidmotors.com/static-files/8123ef5d-1f0c-4c67-820d-b44eacd44c55

 

[Yugi]

Pretty disappointing tbh. 360 is basically 30 cars a week. The reservations have slowed down and the now with the price increases it could just stall.......

More cars on the road attracts more people. Hopefully by year end we will see more reservations.

 

[Sandvinsd]

More cars on the road attracts more people. Hopefully by year end we will see more reservations.

I actually have not SEEN a Lucid on the road in San Diego yet.

 

[mnewber1]

January through March 31, 2022: 360 Deliveries
April 1, 2022 - May 1, 2022: 300 Deliveries

Ramp up.

 

[rbbarry]

11 OTA software updates in Q1, Peter said.

 

[mnewber1]

Interesting! So my GT car door is stamped "Manufactured 2/2022", so by this statement I'm in the first 400 produced...?

Yes, anything produced prior to February 28, 2022 is part of the first 400!

 

[mnewber1]

Production number for Q1: over 700
Deliveries in Q1: 360

Deliveries in April: 300
Production number in April: scampered around question

 

[rbbarry]

This earnings call is nice...

 

[HC_79]

Interesting the GT-P has "apparently" so much demand that they've slotted it in between GT Production and Touring Production. Would've been nice if they disclosed to the numbers for the GT-P

Also, for those listening to the investors call, someone needs to cut the BOA guy off

 

[mnewber1]

Also, for those listening to the investors call, someone needs to cut the BOA guy off

We're sitting here like, why haven't they cut him off??