Q3 - 2282 vehicles, Conference call - Tuesday, November 8, 2022, at 2:30 pm PT

[hydbob]

https://ir.lucidmotors.com/news-releases/news-release-details/lucid-produced-2282-vehicles-q3-2022-track-2022-annual

 

[joec]

Interesting. No mention of Touring or Pure. Hope that plan hasn’t changed.

 

[NoseyReporter]

Those lucid insider numbers seem pretty spot on.

 

[Adnillien]

With the number of cars that we see at the service centers waiting for delivery, I wonder how large the delta between production and deliveries will be.

 

[hydbob]

With the number of cars that we see at the service centers waiting for delivery, I wonder how large the delta between production and deliveries will be.

1400 delivered, so ~800

 

[Shuasha]

Hooray that they made 2,200 cars, weird that they couldn't deliver 800 of them, and suspicious that they put the earnings announcement on election day. That almost sounds like they want anything to be buried in other news.

 

[DeaneG]

Hooray that they made 2,200 cars, weird that they couldn't deliver 800 of them, and suspicious that they put the earnings announcement on election day. That almost sounds like they want anything to be buried in other news.

Lucid stuffed cars to its delivery centers. Hoping they were fully "produced" and not half-baked, destined for remedial work.

 

[Tesla2.0]

Those lucid insider numbers seem pretty spot on.

Link?

 

[DJL]

It is interesting. In our purchase agreement, they define "delivered" as the car being placed onto the transport carrier at the plant. I guess for purposes of the quarterly report, they have to use the actual meaning of delivered to mean the car is actually transford into the hands of the customer.

 

[Shuasha]

It is interesting. In our purchase agreement, they define "delivered" as the car being placed onto the transport carrier at the plant. I guess for purposes of the quarterly report, they have to use the actual meaning of delivered to mean the car is actually transford into the hands of the customer.

It would be weird if they were doing FOB Origin, that would mean someone else's insurance would be covering the car from the factory.

 

[Bobby]

Lucid stuffed cars to its delivery centers. Hoping they were fully "produced" and not half-baked, destined for remedial work.

So much negativity! Every car dealer on earth has cars distributed around the country. Why not Lucid? Must you always assume the worst?

 

[Adnillien]

It is interesting. In our purchase agreement, they define "delivered" as the car being placed onto the transport carrier at the plant. I guess for purposes of the quarterly report, they have to use the actual meaning of delivered to mean the car is actually transford into the hands of the customer.

It only has that clause for states where Lucid is not licensed to sell. Delivery occurs when it is loaded on the carrier after PDI at a service center, not when it leaves the factory. The 800 undelivered is not so bad if it takes on average one month after a car is complete in the factory to get transported to a service center, go through PDI and then be delivered to a customer. It only looks bad because Q2 production was very bad so there was not a lot of cars in delivery pipeline at the start of the quarter. As long as production is ramping, this number will grow.

 

[HC_79]

Keep in mind that the ramp up didn't really seem to happen until the back half of the quarter so the Service Centers could have been seeing a trickle of cars in at the beginning and then got flooded towards the end. That in itself would be a new learning process of get em in and get em out quickly.

I also think that Tourings and Pures are still imminent. They gave the guidance of 6000 to 7000 last quarter and they confirmed that Touring and Pures would be this year. So unless they got a huge influx of Grand Touring orders it's probably safe to assume that GT's will be wrapping up soon especially now the Silvers are going out and moving onto the Touring.

 

[Tesla2.0]

If they can produce 2282 at Q3 half way reorg, 3400 minimum Q4 wouldn’t be far fetched. And Touring/Pure may have lesser parts in assembling line may even go faster in production. Lucid’s future deliver look good, there will be more people will be marveled on the roads and less paparazzi chasing me.

 

[NoseyReporter]

Link?

Somewhere here on the forum. The guy/gal with a slammed humvee as a picture and that has relatives that "work" there.

 

[JerseyStrong]

Hooray for the new team brought in by Rawlinson

 

[HC_79]

Link?

Q3 ~ 3700

My cousin & friends won't give me a number any more, so I just had to keep asking until they stop glaring at me ... 3700 is when he stopped Btw, where 50/day used to be a goal, it's now a baseline ....

lucidowners.com

It's pretty spot on for total numbers (Q1,Q2,Q3). Luckily, it looks like no one picked it up and ran with it before Lucid's announcement but very, very, dangerous thing to be putting delivery numbers heard internally on a public forum. Even worse when a company is publicly listed

 

[HariK]

If they can produce 2282 at Q3 half way reorg, 3400 minimum Q4 wouldn’t be far fetched. And Touring/Pure may have lesser parts in assembling line may even go faster in production. Lucid’s future deliver look good, there will be more people will be marveled on the roads and less paparazzi chasing me.

I think they will hit 7k by the year end. My question really is will they have 2 more production lines for Pure and Touring starting production in Dec. Otherwise, they could build and ship a few of Pure and Touring to be able to say that they met their target. It was definitely a surprise that they announced the number before the Nov Q3 report. Perhaps it is to stop the stock price from falling further. As an investor in Lucid, I would like to see a positive PE ratio and much better guidance for Q4 and 2023 and start publishing monthly data like others. Since I am waiting for Pure fully loaded without the glass roof, I will be happy if they can build more of them sooner if glass roof is a critical item.

 

[joec]

I think they will hit 7k by the year end. My question really is will they have 2 more production lines for Pure and Touring starting production in Dec. Otherwise, they could build and ship a few of Pure and Touring to be able to say that they met their target. It was definitely a surprise that they announced the number before the Nov Q3 report. Perhaps it is to stop the stock price from falling further. As an investor in Lucid, I would like to see a positive PE ratio and much better guidance for Q4 and 2023 and start publishing monthly data like others. Since I am waiting for Pure fully loaded without the glass roof, I will be happy if they can build more of them sooner if glass roof is a critical item.

I suspect a second line for Pure will open up sometime in Q4. Touring could probably be built on the line that is currently doing GTs—assuming they finish GT preorders during the quarter.

Pure is the one Wall Street will care about. I think they could start Pure before Touring, or at least before Tourings are finished.

 

[Tesla2.0]

I think they will hit 7k by the year end. My question really is will they have 2 more production lines for Pure and Touring starting production in Dec. Otherwise, they could build and ship a few of Pure and Touring to be able to say that they met their target. It was definitely a surprise that they announced the number before the Nov Q3 report. Perhaps it is to stop the stock price from falling further. As an investor in Lucid, I would like to see a positive PE ratio and much better guidance for Q4 and 2023 and start publishing monthly data like others. Since I am waiting for Pure fully loaded without the glass roof, I will be happy if they can build more of them sooner if glass roof is a critical item.

I don’t think the issue they are facing is building, but where to park those extra cars in each delivery center.