Lucid posts 4% rise in quarterly deliveries as promotional price helps demand
© Reuters. FILE PHOTO: A Lucid Air electric vehicle is displayed in Scottsdale, Arizona, U.S., September 27, 2021. Picture taken September 27, 2021. REUTERS/Hyunjoo Jin/File Photo -Lucid Group posted a near-4% sequential increase in deliveries for the third quarter after the electric-vehicle maker offered a promotional price to aid demand for its Air luxury sedan.
The carmaker produced 1,550 vehicles and delivered 1,457 units in the third quarter ended Sept. 30, compared with the 2,173 vehicles it made and 1,404 delivered in the three months to June.), backed by Saudi Arabia's Public Investment Fund, slashed prices of its Air luxury sedans by as much as $12,400 as part of a special offer in August.
The company had said in August it was on track to produce 10,000 vehicles this year, and would need to make about 4,000 cars in the fourth quarter to meet its target. The company also said it had enough cash to start producing its much-awaited sport utility vehicles next year and into 2025.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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