Third quarter results

[svoelpel]

3rd quarter results not encouraging. Welcome others' perspectives. https://247wallst.com/autos/2022/11/09/lucid-hammered-by-results/

 

[Neurio]

3rd quarter results not encouraging. Welcome others' perspectives. https://247wallst.com/autos/2022/11/09/lucid-hammered-by-results/

See here:

Anyone listened to Q3 2022 Earning call?

Anyone has info? I got in last 5 minutes, only heard Peter Rawlinson answered Gravity will be a sports car type SUV.

lucidowners.com

 

[DJL]

3rd quarter results not encouraging. Welcome others' perspectives. https://247wallst.com/autos/2022/11/09/lucid-hammered-by-results/

I think 247wallstreet's analysis is a resonable financial assessment of Lucid's situation. The numbers are grim but I think many of us expected this once the company lowered its projected production numbers the previous quarter. It is not possible to generate revenue when you are not producing and delivering cars. While it is encouraging that Lucid upped their production numbers during the 3rd quarter, they fell on their face getting them delivered. Now, watching the massive build up of cars piling up on the parking lot at the AMP-1 facility, I am really concerned about their ability to deliver cars during the 4th quarter. Thus, I am anticipating they will once again miss their revenue requirements, this time for the 4th quarter, 2022. I think this might be a small part of the reason the bottom dropped out of their stock price.
Also, I think 247wallstreet's modest caution at the end of their article regarding upcoming competition from the major players needs to be carefully taken in and considered. While these companies do not have the remarkable technology that Lucid has, they have some things that are much more valuable when it come to investors. Specifically: the ability to mass produce and deliver EVs in a manner that generates EVs at a cost the general public can afford and buy. While their profit margins are much lower on these cheaper cars, they can pump them out faster and people can more readily afford to buy them. Therefore,, the legacy car companies are so much better positioned to continue to be sucessfull finanically than Lucid is. This is the reason why I have balanced my EV part of my portfolio with Ford stock.
While I have a significant number of Lucid shares in my EV portfolio and am a long term strong supporter of Lucid and their unique technology, I am anxious for Peter to stop focusing on how great the Lucid cars and technology are and start talking like a CEO of a company that knows how to make money. I understand how difficult it is for Lucid to learn how to produce quality cars, how they need to spend great gobs of money to finish the construction of their AMP-1 facility, how necessary it is to spend money on expanding their studios and service centers, how they absolutely need to ramp up their spending money to build their Saudi plant, etc., etc., etc. Now is the time to convey a knowledge to his investors on how they will be quickly ramping up Lucid Motors' revenues and shorten the horizon to making a profit.
In my opinion, Lucid need to focus on getting the Pure into the market place as a priority since this is where the majority of the reservations are. Plus, they really need to ramp up the production and delivery of Pures.
It is my personal opinion that the Sapphire was a mistake to produce since its market impact is basically zero. Very few of these cars will be produced and sold compared to the Pure. Lucid need to focus on where the market is and who can afford its cars and then produce those type of cars hand over fist. They are gambling that the Gravity will hit that sweet spot. I hope they are right but I am concerned that the market is not going to be there as strongly as Lucid is projecting. Thus, I think they need to work on getting a lower cost vehicle out that the market can gooble up.

 

[DJL]

I think 247wallstreet's analysis is a resonable financial assessment of Lucid's situation. The numbers are grim but I think many of us expected this once the company lowered its projected production numbers the previous quarter. It is not possible to generate revenue when you are not producing and delivering cars. While it is encouraging that Lucid upped their production numbers during the 3rd quarter, they fell on their face getting them delivered. Now, watching the massive build up of cars piling up on the parking lot at the AMP-1 facility, I am really concerned about their ability to deliver cars during the 4th quarter. Thus, I am anticipating they will once again miss their revenue requirements, this time for the 4th quarter, 2022. I think this might be a small part of the reason the bottom dropped out of their stock price.
Also, I think 247wallstreet's modest caution at the end of their article regarding upcoming competition from the major players needs to be carefully taken in and considered. While these companies do not have the remarkable technology that Lucid has, they have some things that are much more valuable when it come to investors. Specifically: the ability to mass produce and deliver EVs in a manner that generates EVs at a cost the general public can afford and buy. While their profit margins are much lower on these cheaper cars, they can pump them out faster and people can more readily afford to buy them. Therefore,, the legacy car companies are so much better positioned to continue to be sucessfull finanically than Lucid is. This is the reason why I have balanced my EV part of my portfolio with Ford stock.
While I have a significant number of Lucid shares in my EV portfolio and am a long term strong supporter of Lucid and their unique technology, I am anxious for Peter to stop focusing on how great the Lucid cars and technology are and start talking like a CEO of a company that knows how to make money. I understand how difficult it is for Lucid to learn how to produce quality cars, how they need to spend great gobs of money to finish the construction of their AMP-1 facility, how necessary it is to spend money on expanding their studios and service centers, how they absolutely need to ramp up their spending money to build their Saudi plant, etc., etc., etc. Now is the time to convey a knowledge to his investors on how they will be quickly ramping up Lucid Motors' revenues and shorten the horizon to making a profit.
In my opinion, Lucid need to focus on getting the Pure into the market place as a priority since this is where the majority of the reservations are. Plus, they really need to ramp up the production and delivery of Pures.
It is my personal opinion that the Sapphire was a mistake to produce since its market impact is basically zero. Very few of these cars will be produced and sold compared to the Pure. Lucid need to focus on where the market is and who can afford its cars and then produce those type of cars hand over fist. They are gambling that the Gravity will hit that sweet spot. I hope they are right but I am concerned that the market is not going to be there as strongly as Lucid is projecting. Thus, I think they need to work on getting a lower cost vehicle out that the market can gooble up.

This article in the NY Times today underscores the need for Lucid to press hard on developing and deliverying a mid priced car as soon as possible. To read it, click HERE. The Pure is a step in the right direction but, in my view, is still a very high priced car that the majority of the marketplace will not be able to afford. Likewise with the Gravity when it comes out although the highend EV SUV market does have potential for an initial positive revenue impact since it is still relatively untapped. How long this will last I am just not sure. It will be a function of how fast and hard the legacy manufacturers rush in to usurp the market.
Right now, Lucid is a niche player and I wish I knew what its long term market strategy is. I know Peter has stated more than once that he is looking forward to offering a lower priced Lucid. Initially he stated a $25K price and later stated, I believe, a $50K price. I am not sure this was for the same car but anything in this general price range will have significant potential regarding capturing the hearts of the main marketplace, given Lucid's current fundamental technology advantage and resulting range. Once the public starts to understand the importance of owning an EV with high efficiency and the positive impacts it has on the operation of an EV, Lucid wll have a real advantage over the legacy manufactures.

 

[Rchie]

This article in the NY Times today underscores the need for Lucid to press hard on developing and deliverying a mid priced car as soon as possible. To read it, click HERE. The Pure is a step in the right direction but, in my view, is still a very high priced car that the majority of the marketplace will not be able to afford. Likewise with the Gravity when it comes out although the highend EV SUV market does have potential for an initial positive revenue impact since it is still relatively untapped. How long this will last I am just not sure. It will be a function of how fast and hard the legacy manufacturers rush in to usurp the market.
Right now, Lucid is a niche player and I wish I knew what its long term market strategy is. I know Peter has stated more than once that he is looking forward to offering a lower priced Lucid. Initially he stated a $25K price and later stated, I believe, a $50K price. I am not sure this was for the same car but anything in this general price range will have significant potential regarding capturing the hearts of the main marketplace, given Lucid's current fundamental technology advantage and resulting range. Once the public starts to understand the importance of owning an EV with high efficiency and the positive impacts it has on the operation of an EV, Lucid wll have a real advantage over the legacy manufactures.

A $25k EV from Lucid sounds crazy to me. $50k sounds more believable.

 

[hellolucid]

This article in the NY Times today underscores the need for Lucid to press hard on developing and deliverying a mid priced car as soon as possible. To read it, click HERE. The Pure is a step in the right direction but, in my view, is still a very high priced car that the majority of the marketplace will not be able to afford. Likewise with the Gravity when it comes out although the highend EV SUV market does have potential for an initial positive revenue impact since it is still relatively untapped. How long this will last I am just not sure. It will be a function of how fast and hard the legacy manufacturers rush in to usurp the market.
Right now, Lucid is a niche player and I wish I knew what its long term market strategy is. I know Peter has stated more than once that he is looking forward to offering a lower priced Lucid. Initially he stated a $25K price and later stated, I believe, a $50K price. I am not sure this was for the same car but anything in this general price range will have significant potential regarding capturing the hearts of the main marketplace, given Lucid's current fundamental technology advantage and resulting range. Once the public starts to understand the importance of owning an EV with high efficiency and the positive impacts it has on the operation of an EV, Lucid wll have a real advantage over the legacy manufactures.

agreed. from what i recall Tesla didn't become mainstream until they started delivering Model 3. I would like to see Lucid take a similar approach and offer a cheaper model for masses.