Lucid beats EV delivery expectations

Lucid Group Inc. beat quarterly delivery expectations on Monday as the company cut prices and offered financing facilities to boost demand, sending its shares up more than 6%.

The company delivered 3,099 vehicles in the fourth quarter of 2024, compared with the 2,637 estimated by six analysts polled by Visible Alpha. That represents an 11% increase from the third quarter and a 78% increase from the previous year’s fourth quarter.

In 2024, production rose 7% to 9,029 vehicles, beating the company’s target of 9,000 vehicles. Annual deliveries also rose 71% to 10,241 vehicles.