Is Lucid Motors headed for bankruptcy?

The American electric vehicle manufacturer Lucid does not see its sales take off and continues to deepen its losses by millions of dollars.

The goal was to sell 14,000 cars in 2023. For this volume, Lucid Motors already admitted to limiting the damage with an acceptable operating loss for a “real” launch year. Some cars had already been delivered in 2022, but the real push with the entire Air range – a huge sedan competing with the Tesla Model S – was in 2023.

However, commercial performance is plummeting: -40% below the target, with approximately 8,000 to 8,500 sales expected by the end of the year. 1,456 cars were sold in the third quarter, up from 1,404 in the previous quarter. So much so that even the hope of selling 8,000 cars seems illusory.

After a loss of 687 million dollars in 2022, Lucid Motors would have lost an additional 752 million dollars in 2023, for a total loss of 2.17 billion dollars since its inception. According to a financial report, the brand would be losing around 433,000 dollars per car sold!

The executives of Lucid Motors remain reassuring nonetheless, claiming to still have 5.45 billion dollars in liquidity obtained during the stock market listing. A move that has lost 69% of its value in one year!

The upcoming launch of the very large SUV Gravity is also expected to help the brand reach a new industrial and profitability milestone. We wish them all the best.

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