Lucid Motors' third-quarter production fell below 3,000 vehicles, the lowest since the first quarter of 2025. The company said the planned output cut was aimed at reducing inventory and matching production to demand.

TechCrunch and Lucid said on Oct. 5 that the company produced 2,954 EVs in the third quarter and delivered 3,806. Output fell about 24 percent from 3,891 a year earlier and declined for a third straight quarter after 5,500 in the first quarter and 4,774 in the second quarter. Deliveries held at a similar level to 3,953 in the second quarter.

Deliveries exceeding production reflected a strategy to run down existing inventory. Lucid removed a second shift at its AMP-1 plant in Arizona in June and is adjusting output to meet short-term demand. Silvio Napoli (실비오 나폴리), Lucid's chief executive officer, is pushing a turnaround that includes simplifying the organisational structure and cutting headcount. The company's cash-flow improvement target for this year is $1.4 billion, or 1.88 trillion won.

It also delayed the launch of a new mass-market model. The Cosmos mid-size SUV, planned at under $50,000, or 67.2 million won, has been pushed back to the second half of 2027. Napoli said he will not rush to launch a product that is not ready in order to avoid repeating quality and service problems seen in existing vehicles.

Rival Rivian, by contrast, posted a quarterly record, producing 19,751 vehicles and delivering 19,248 in the third quarter on the back of its mass-market SUV R2. Deliveries rose about 58 percent from 12,194 in the second quarter.

Lucid had expected shipments of up to 90,000 vehicles in 2024 when it listed in 2021, but its business expansion fell short of expectations. A rebound in performance is expected to depend on a recovery in Gravity sales and whether Cosmos is launched successfully.