Q4 2022 Earnings Preview Article

[Bobby]

It's not the speech pattern as much as not having a clear, concise answer to what they should expect as the main question from analysts. It did not inspire confidence.

He is much better at reading prepared remarks. As they grow, they may wish to use somebody else to answer questions.

 

[richardshirley1@]

An analyst asked why so few cars being produced. Is it a demand or production limitation? I think Peter has implicitly confirmed it was a demand issue by answering it was not a production issue. I guess more cancellations come from Pure reservation holders since they are more cost conscious then DE/GT folks especially in this economic environment.

And many Pure reservation holders appear disappointed in final specs being less than they expected.

 

[MorganB]

IMHO - Tesla most definitely is their competitor, as well as any other EV. They are by far and away the EV market leader that everyone compares itself too and wants a piece of the pie. Since I own a refresh Model S, I most definitely would cross shop the Lucid Air and when they come out the new BMW i5 and Audi E6 EV or just keeping my Model S or upgrade if there is another improved version of the Model S.

Outside of people on this forum, hardly anyone in the general pubic even knows what a Lucid Air is. They all know Tesla, BMW, Audi, etc though.

I just think it’s odd that people consider all EVs as competitors. It’s like saying Rolls Royce competes with Hyundai. They are both ICE after all.

 

[DBV]

I just think it’s odd that people consider all EVs as competitors. It’s like saying Rolls Royce competes with Hyundai. They are both ICE after all.

Ha - there is a big difference between Rolls Royce and Hyundai, but in the field Lucid Air is competing in there are many more competitors coming and only so many people that can afford a $100k car. I listed the ones that I compare it to above. But, that is my comparison and the cars that I would consider, plus a few others.

 

[quantum]

What would have been good in your opinion? What would have been good numbers? Peter described continuing supply chain issues. So what do you think they could have done better in this climate?

I'm not saying the numbers were good, but they weren't awful either. Gravity reveal is still on track for this year, and shipments to Europe and the Kingdom are on track for Q2.

In my opinion, the earning results were not good and the forecast for this year was certainly not promising. Seeking Alpha had a good report describing what other investors and maybe potential owners are thinking. It does make me question a potential purchase.

I really hope Lucid can get it going, but it will be really tough with this priced car in this marketplace right now. Would be a different story if they had a Model 3/Y priced EV.

Lucid: Q4 Report Not Good (NASDAQ:LCID)

Lucid's earnings fell short of street estimates, and 2023 vehicle production guidance was not that impressive. Read why LCID may struggle in the coming year.

seekingalpha.com

Seeking alpha? Bunch of amateurs! I sincerely hope you don’t get investment advice from investor place, seeking aloha , motley fool articles!! Those articles are written by a bunch of free lancers.

 

[quantum]

Ha - there is a big difference between Rolls Royce and Hyundai, but in the field Lucid Air is competing in there are many more competitors coming and only so many people that can afford a $100k car. I listed the ones that I compare it to above. But, that is my comparison and the cars that I would consider, plus a few others.

You know how many 100k cars are sold a year? Merc, Audi, bmw DONT make a compelling product, Half the people I work with never heard of Lucid- and I live in Arizona. Peter Rawlinson is right, need to get advertising and the word out.

Best looking EV out there! Just need time. I’m just buying more every dip. Ignore knee jerk investors and analysts … all of them are self serving!

 

[DBV]

Seeking alpha? Bunch of amateurs! I sincerely hope you don’t get investment advice from investor place, seeking aloha , motley fool articles!! Those articles are written by a bunch of free lancers.

Hm - why don’t you branch out and read other articles too? It is not just them. WSJ, Reuters, on and on. A good investor does their research, research and research. Information/research is key my friend!

 

[quantum]

In my opinion, the earning results were not good and the forecast for this year was certainly not promising. Seeking Alpha had a good report describing what other investors and maybe potential owners are thinking. It does make me question a potential purchase.

I really hope Lucid can get it going, but it will be really tough with this priced car in this marketplace right now. Would be a different story if they had a Model 3/Y priced EV.

Lucid: Q4 Report Not Good (NASDAQ:LCID)

Lucid's earnings fell short of street estimates, and 2023 vehicle production guidance was not that impressive. Read why LCID may struggle in the coming year.

seekingalpha.com

Wrong, they can’t compete with Tesla and should not. Once economy improves, they will be fine. If they build a cheap car now, they will lose more money. International expansion are where the sales are.

 

[DBV]

You know how many 100k cars are sold a year? Merc, Audi, bmw DONT make a compelling product, Half the people I work with never heard of Lucid- and I live in Arizona. Peter Rawlinson is right, need to get advertising and the word out.

Best looking EV out there! Just need time. I’m just buying more every dip. Ignore knee jerk investors and analysts … all of them are self serving!

Did you read my comments? BMW and Audi are coming out with cars that will compete nicely. Audi A6 will have over 400 range. Both BMW/Audi have more mature software too.

There are a lot of good looking EV’s. Lucid looks awesome (kind of a Lincoln look, which I like), Tesla Model S looks more sporty, Mercedes EQS luxury, etc…. I can find positives and negatives in all of them. Obviously sounds like you are biased, which is fine. I own a Model S and definitely not biased towards Tesla. Maybe BMW though. Lol

I am done debating with you though, as you obvious are biased. Time to hit ignore! Good luck!

 

[quantum]

Hm - why don’t you branch out and read other articles too? It is not just them. WSJ, Reuters, on and on. A good investor does their research, research and research. Information/research is key my friend!

I don’t trust any articles pushed out by Wall Street. Don’t even trust CNBC. They manipulate and create opportunity for themselves. Lucid makes the best EV, tech, looks and beats the Germans. They will advertise and promote, customers will eventually come. PIF will NEVER let their baby fail.

 

[quantum]

Did you read my comments? BMW and Audi are coming out with cars that will compete nicely. Audi A6 will have over 400 range. There are a lot of good looking EV’s. Lucid looks awesome (kind of a Lincoln look, which I like), Tesla Model S looks more sporty, Mercedes EQS luxury, etc…. I can find positives and negatives in all of them. Obviously sounds like you are biased, which is fine. I own a Model S and definitely not biased towards Tesla. Maybe BMW though. Lol.

Haha, poor packaging, ugly, no space, look ugly- the I7 hideous, EQS is a blob, no frunk?? Range sucks and who wants to deal with a dealership?? No software updates. I can go on and on. ICE manufacturers will always be on the back foot!

 

[Lucken]

I'm going to do the same. It's a hard decision to make but I believe it's a right one.

In my case I don't mind losing my $300 deposit and waiting to see what happens by the 3rd quarter when they are 'scheduled' to begin RWD Pure production. I am extremely happy with my i4 and I suspect, certainly from a software standpoint, it exceeds that of the Lucid in its current state. So my fallback position, my i4, is an extremely comfortable place to be.

However, hearing all of this is certainly concerning to me and I think it would be naive to not consider the possibility of Lucid not making it in the long term. Hopefully I'm just being overly cautious, but it's certainly prudent to at least be a bit concerned.

 

[quantum]

Ok “a bunch”, I’ll agree with that but why are there over 2000 cars sitting in the AZ sun for several months now? I bet he can’t or won’t say “…. we had 2000 cancellations after the order was made…..” Maybe interest rates effected some buyers. When they made their order interest rates were in the 2s, now it’s in the 5s, etc. I would like more transparency.

No company is that transparent

 

[quantum]

Did you read my comments? BMW and Audi are coming out with cars that will compete nicely. Audi A6 will have over 400 range. Both BMW/Audi have more mature software too.

There are a lot of good looking EV’s. Lucid looks awesome (kind of a Lincoln look, which I like), Tesla Model S looks more sporty, Mercedes EQS luxury, etc…. I can find positives and negatives in all of them. Obviously sounds like you are biased, which is fine. I own a Model S and definitely not biased towards Tesla. Maybe BMW though. Lol

I am done debating with you though, as you obvious are biased. Time to hit ignore! Good luck!

Yes, I’m biased because I’ve owned a Model S and know how bad the car is. Lucid is miles ahead in quality and EV tech. The Germans make nice interiors but rest of the car is packaged really bad…they don’t know how to make a proper EV!

 

[Lucken]

Haha, poor packaging, ugly, no space, look ugly- the I7 hideous, EQS is a blob, no frunk?? Range sucks and who wants to deal with a dealership?? No software updates. I can go on and on. ICE manufacturers will always be on the back foot!

There's quite a bit of subjectivity here. I'm not sure which car you're talking about when you say 'no space'...certainly not the i7. If you watch Kyle's video there's plenty of space, as in fully reclining rear seat space. I agree about the looks of the i7 & EQS, their profiles do nothing for me. However looks are subjective and some may love the looks of either or both cars. Others may be very comfortable in buying an establish brand where there's no fear of the company's longevity.

As far as range, let's be honest here, Lucid simply does not meet its range/efficiency specs in most cases. We can argue all day about the different EPA cycles, but when you see a German car or, to some degree, a Korean car with lesser range specs, the reality is the spread between those cars and the Lucid are not nearly as great as they appear on paper. One group exceeds their ratings, sometimes significantly, and the Lucid & Teslas have considerable trouble, for most owners, approaching their ratings. I believe this to the degree that I'll be happy if my upcoming Pure simply matches my i4's actual range & efficiency, despite its lower 'on paper' specs.

I see so many comments here that translate to 'who cares about range & efficiency'. Well, Peter can't stop talking about it, so its fair game.

Finally, as far as 'who wants to deal with a dealership', many prefer dealing with a dealership, especially after the sale, since a Lucid service facility may be multiple states away from your home! Here in a hugely populated area like the greater N.Y. region, we still have no service facility in the ti-state area. We are scheduled for one in the spring, but during my test drive my sales associate said construction work had stopped for some unexplained reason. Yet most established dealership service facilities are minutes away, so that's a huge difference for many buyers.

 

[MorganB]

IMHO - Tesla most definitely is their competitor, as well as any other EV. They are by far and away the EV market leader that everyone compares itself too and wants a piece of the pie. Since I own a refresh Model S, I most definitely would cross shop the Lucid Air and when they come out the new BMW i5 and Audi E6 EV or just keeping my Model S or upgrade if there is another improved version of the Model S.

Outside of people on this forum, hardly anyone in the general pubic even knows what a Lucid Air is. They all know Tesla, BMW, Audi, etc though.

The cars you mention are great on paper and should be a good leap forward for Audi and BMW compared to their current platforms . However they are at least two years off and time will tell if they can actually deliver them when they expect and in what quantity. Look at how Audi fumbled the Q4. In two years the Gravity will be on the market and the Air will be over 3 years old. I do think the Audi and BMW are much more fair comparisons to the Air but the Air will enjoy that two year lead.

The model S is similar to the Air as it has good battery tech and range and certainly wins on software currently but Lucid is actively closing that gap. It does not compete on fit, finish or ride. The Model S is a great car and had that wow factor 6 years ago but now its a bit long in the tooth as far as design is concerned and the interior is a solid step down from Lucid or any of the future cars you reference.

 

[Adnillien]

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