The production outlook for the 2022 MotorTrend Car of the Year, Lucid’s Air all-electric sedan, has been reduced to an estimated output of between 12,000 and 14,000 deliveries this year, down from the initial outlook of 20,000 cars. Supply chain constraints are cited as the latest issue for the new automaker, following a recall announced last week affecting 203 of the vehicles delivered so far, and initial delays launching production last fall.
Lucid’s Updated 2022 Outlook
In a statement to investors, Lucid Group announced today that its “2.85M square foot expansion of the Casa Grande, Arizona manufacturing facility is on track,” as well as plans to build a new manufacturing facility in the Kingdom of Saudi Arabia. Lucid cited supply chain constraints and quality assurance for its updated outlook of 2022 Lucid Air production “to a range of 12,000 to 14,000 vehicles.” Original announced outlook was optimistically set at 20,000 for 2022, with a scale up to 35,000 cars planned to be produced in 2023. Today’s announcement made no mention of the impact on next year’s outlook.
More Than 300 Lucid Air EVs Delivered So Far
Early delays on the Lucid Air were said to be in the name of delivering the best quality fit and finish for Lucid customers, and the recent recall affecting 203 of its cars is said to be an issue with a supplier-provided component that’s already been fixed on future cars, which is likely related to the supplier issues causing today’s announced setback. The company release also mentioned production of 125 cars in the fourth quarter of 2021, and overall output of more than 400 new Air sedans, with more than 300 deliveries to customers so far.
And 25,000 Lucid Air Reservations
Lucid CEO Peter Rawlinson also shared that the company was “thrilled to have been awarded the 2022 MotorTrend Car of the Year,” that customer feedback was overwhelmingly positive so far, and that he is “more confident than ever that [Lucid is] building a quality foundation on which we can scale this business.” The company also reported around “25,000 customer reservations” in the release. The company counts these as a “potential sales” value of more than $2 billion.
Sean O’Kane at Bloomberg reports the company has postponed the planned launch of its second vehicle, an SUV, to 2024: “Lucid Motors delays launch of electric Gravity SUV to first half of 2024 to ‘help ensure it meets our commitment to high quality standards. ‘” Bloomberg reports that shares of Lucid fell 12 percent in post-market trading Monday evening to a price of $25.50, which is down 24 percent from the year’s start.
Keyword: Lucid Air Production Estimates Deflated by Supply Chain Woes