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Genghis

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Yikes! Miss across the board on revenues, EPS, production, and deliveries. Lowered production numbers to 10k for 2023 and $4.1 billion cash on hand that will last to Q2 of 2024. They will need to raise again so dilution unless they can get more non-dilutive financing which is pretty much impossible in this market. Hope they can survive or go private.
 
This is, interesting. They already set the expectation that Q1 was going to be utter crap with the follow up that Q2 will reflect their actual intentions. Lowering the target to 10,000 for this year is… concerning.
 
I did not expect good news and my butt is still clenched. I can only hope that the Pure rollout goes well and people follow through on their reserves. I know the gravity is exciting but I'm honestly not too sure what to expect with it in this financial market.
 
I’m strictly hoping they learn how to sell and pivot what they have.

This isn’t a demand problem per se. The car is phenomenal and I’ve never witnessed as much interest in a car as I have this car.

The company image is questionable in longevity, and the car price is too much to bolster confidence in this economy.

Ontop of everything else, there is an overall issue with demand on luxury sedans as a whole. Why do you think the Mach-E is an SUV/Crossover?

They need to get the gravity out and they need better financial publicity.

Now, I’m not toooo worried about the company financially atm because of who’s backing them. But they do need to put a grip on their burn/sell rate. Right now, their announcement solidified they need another round of funding which isn’t what we should be hearing. THAT is a problem.
 
Constant news media and social media negativity, directed at Lucid and at EVs in general , in combination with a horrific US non -Tesla charging infrastructure are huge detriments and will continue to depress sales. I hope Europe and Saudi Arabia can help things out.
People hate being inconvenienced and there are just too many stories popping up in the media about charging problems , etc.
The car is phenomenal and a blast to drive but they need better marketing and this country and EA needs to get its crap together with EV infrastructure.
Done with rant.
 
a lot of negatives, but did find some positives when comparing the Q4 2022 presentation and Q1 2023 presentation. for those that take the "glass half full" perspective:

1) cash runway improved to "at least" until Q2 2024, from Q1 2024
2) pure ramp up in 2nd half of 2023, as opposed to 2024
 
Not great, but it was expected.

Glad to see they are indeed appearing to become more efficient with they cash spend, but a raise is a raise and dilution is coming.

The only ray of hope is licensing, but everyone is facing the same economic conditions Lucid is facing. I don't see this happening any time soon.
 
If you were considering ordering a new EV and you read the news today would you order a Lucid? Would you worry that nine months after you get the Car that the Company will be out of business or sold? I would like to order the Gravity. However, maybe I should stick with a company that I know will be around to service the Car. This is why they are selling very few cars. Of all the Companies producing EV’s I think Lucid is selling the fewest units each qtr. Can they make it to next year when they said they will need substantial additional Capital. No one knows.
 
St Bernard said:
If you were considering ordering a new EV and you read the news today would you order a Lucid? Would you worry that nine months after you get the Car that the Company will be out of business or sold? I would like to order the Gravity. However, maybe I should stick with a company that I know will be around to service the Car. This is why they are selling very few cars. Of all the Companies producing EV’s I think Lucid is selling the fewest units each qtr. Can they make it to next year when they said they will need substantial additional Capital. No one knows.
Click to expand...

I would still order it, but you make a great point. The car is just too good to give up on, in my opinion.
 
1. I have a hard time believing the current backers aren't up for at least a couple of more rounds of financing
2. Large luxury sedan market was limited before Lucid'd entrance. Their business model of we'll show Elon what a Model S should be was childish.
3. Interest rate environment is working against them.
4. I hope the Gravity is a success.
5. I still feel Lucid would be better off being folded under Lexus' wing after a Toyota buy out.
 
Talk is cheap…

Earning calls today sounds the same of previous calls —- delay, delay, delay, because, because, because, but, but, but…

Lucid makes best performance sedan, but poor corporate image doesn’t seems to exuberance confidence from upper management to potential consumers.

Bottomline —- produce, produce, produce, deliver, deliver, deliver! Get as much Pure trim out on the streets, that’s their best brand awareness which has been procrastinated over and over.
 
St Bernard said:
If you were considering ordering a new EV and you read the news today would you order a Lucid? Would you worry that nine months after you get the Car that the Company will be out of business or sold? I would like to order the Gravity. However, maybe I should stick with a company that I know will be around to service the Car. This is why they are selling very few cars. Of all the Companies producing EV’s I think Lucid is selling the fewest units each qtr. Can they make it to next year when they said they will need substantial additional Capital. No one knows.
Click to expand...
I would of course go for the best product on the market if you are looking for the best driving machine and can afford that kind of luxury and technology. Worrying about not able to be serviced is just absurd. All the previous down under brands are all able to be serviced despite they went belly up. This EV doesn’t need much maintenance, what to maintain? Oil change? 150k miles brake pad replacement? 200k+ battery update?

Even if Lucid is out of business, their product will still be around and get rebranded, their technology is highly desired by many auto maker for quick path to technology catch up. (Ie. Toyota and Honda)

Here are some historical examples:
Volvo: went bust, sold to Geely
Lotus: went bust, sold to Geely
Land Rover: went bust, sold to BMW, then sold to Ford, then again sold to Tata
Chrysler: went bust, repeatedly
Fiat Chrysler: bust again
Nissan: almost bankrupt, saved through acquisition by Renault; first breakthru Leaf EV, not much electric drivetrain advancement in 10 years, may bust again.
Geo: went bust, went to Chevrolet.
Saab: went bust, went to GM
GM: went bust, bailed out by the US Government (RIP Pontiac, Saturn, etc.)
Tesla: magically raised capital a few times, near-death repeatedly during launch and scaling phases of Model 3 and Y
Lordstown: Ran out of cash, seek capital or go bust to be acquired.
Fisker: went bust, brand was acquired, relaunched as a new company
Various brands: went bust, sold to VW

As long as you have technology, your product will be around regardless of survival of brand name. Lucid Air has many intrinsic new break-thru advance technology and designs. It’s not going anywhere. Life is short, go buy one and enjoy!
 
Tesla2.0 said:
Talk is cheap…

Earning calls today sounds the same of previous calls —- delay, delay, delay, because, because, because, but, but, but…

Lucid makes best performance sedan, but poor corporate image doesn’t seems to exuberance confidence from upper management to potential consumers.

Bottomline —- produce, produce, produce, deliver, deliver, deliver! Get as much Pure trim out on the streets, that’s their best brand awareness which has been procrastinated over and over.
Click to expand...
100% agree. That earnings call was so unexciting to me as an investor. Just hit your numbers for once to build investor confidence and momentum. Everyone knows it's hard and expensive to start a new car company but everyone you down forecast numbers, at least hit those numbers. I wouldn't be surprised if Lucid opens $6 or lower tomorrow. Really disappointing as an investor but I'm very happy as a consumer.
 
St Bernard said:
If you were considering ordering a new EV and you read the news today would you order a Lucid?
Click to expand...

If resale value dropping 50% overnight or dropping to near zero in the next 2 years would ruin you financially then no. Leasing is still low risk.

If those dropping resale values are just an annoyance then why not? Do you think people regret buying the last few Deloreans or Tuckers?

IF PiF was not willing to pour more billions into Lucid then Peter would not continue expanding the factory.

PiF has invested $3.6B for a 60.5% stake in Lucid. That stake at this moment is worth $7.8B, after the 8% overnight drop from the earnings report.
 
Tesla2.0 said:
I would of course go for the best product on the market if you are looking for the best driving machine and can afford that kind of luxury and technology. Worrying about not able to be serviced is just absurd. All the previous down under brands are all able to be serviced despite they went belly up. This EV doesn’t need much maintenance, what to maintain? Oil change? 150k miles brake pad replacement? 200k+ battery update?

Even if Lucid is out of business, their product will still be around and get rebranded, their technology is highly desired by many auto maker for quick path to technology catch up. (Ie. Toyota and Honda)

Here are some historical examples:
Volvo: went bust, sold to Geely
Lotus: went bust, sold to Geely
Land Rover: went bust, sold to BMW, then sold to Ford, then again sold to Tata
Chrysler: went bust, repeatedly
Fiat Chrysler: bust again
Nissan: almost bankrupt, saved through acquisition by Renault; first breakthru Leaf EV, not much electric drivetrain advancement in 10 years, may bust again.
Geo: went bust, went to Chevrolet.
Saab: went bust, went to GM
GM: went bust, bailed out by the US Government (RIP Pontiac, Saturn, etc.)
Tesla: magically raised capital a few times, near-death repeatedly during launch and scaling phases of Model 3 and Y
Lordstown: Ran out of cash, seek capital or go bust to be acquired.
Fisker: went bust, brand was acquired, relaunched as a new company
Various brands: went bust, sold to VW

As long as you have technology, your product will be around regardless of survival of brand name. Lucid Air has many intrinsic new break-thru advance technology and designs. It’s not going anywhere. Life is short, go buy one and enjoy!
Click to expand...
I actually have a Fisker Karma and cannot get it serviced. Nobody will service a Fisker Karma. You can google it. And it’s not always about maintenance. I’m constantly worried about somebody hitting my car because body shops can no longer order parts for a Fisker Karma. The problem with car makers going belly up has always been inability to get parts.
 
ac.bill said:
The earnings call turned out just about like I expected. The negativity and selling is just about as I expected. Lowball orders posted for tomorrow. Not worried at all.
Click to expand...
A little bit of worried is justified in the sense of what will become of Lucid in the next 1-2 years. As to the brand disappearing, that is of no concern atm. There’s a million reasons for them to be absorbed into other places or even go private.
 
Anyone who expects a new car company not to dilute should not be investing. Period!

Car manufacturing is capital intensive. The present economy and interest rates hike doesn't help.

Gravity was pushed back a few months- at least by then interest rates would drop.

Negative propagonda about the company doesn't help. All those going around its going bankrupt make people hesitant to buy. Hopefully that will change as once Saudi factory is up and manufacturing by September ( the many Princes will buy).

I'm not worried at all. They said 10k-14k last earnings. So they are meeting guidance by targeting 10k. With resent staff cuts, that should improve expenses.

They should promote the PURE like hell and ignore the Touring/GT.

I'm holding till ay least 2032, buying more on the dip!
 
The very first question on the call, and the answer. Ouch.

Its worth noting that the price action today is relatively positive all things considered.
 
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