Lucid Is Killing It The California-based startup cleared a lot of its inventory in the third quarter, which led to a massive increase in deliveries. Lucid Motors is having a great year in terms of sales. Its sole EV, the Air sedan, had its third consecutive record quarter.
Lucid Motors , the California-based luxury automaker that has just one model in its lineup–the Air four-door sedan–marked its third straight quarter of record deliveries. In the third quarter, Lucid Air deliveries went up 91% to a record 2,781 units. Production also went up 16% year-over-year and reached 1,805 vehicles in Q3, which means the remaining 976 units went out of inventory.
The main reason for the uptick in sales is the healthy manufacturer discounts, which reached an average of $19,403 in the third quarter, an increase of 28% year-over-year, according to Motor Intelligence quoted by Automotive News . A part of that big chunk of incentives comes from the $7,500 federal tax credit which can be applied to any EV when leasing. That’s important for Lucid because the Air sedan doesn’t qualify for the tax credit when purchasing.
Lucid Motors delivered 2,394 EVs in the second quarter, 70% more year-over-year and 22% more than in Q1. From the beginning of the year, the California startup manufactured 5,643 cars and delivered 7,142 units–the difference between production and sales is represented by inventory vehicles from last year when Lucid assembled more cars than it delivered. By contrast, du.