Lucid Group reported a 38 percent year-over-year increase in electric vehicle deliveries for the second quarter, handing over 3,309 units compared to 2,394 a year ago.
Despite the growth, demand for Lucid’s premium electric vehicles continues to face headwinds, with high interest rates and economic uncertainty pushing many consumers toward more affordable hybrid and gasoline-powered options. The company also missed production expectations, building 3,863 vehicles in Q2 versus the estimated 4,305 units.
Lucid reaffirmed its annual production target in May, offering some reassurance to investors amid broader industry challenges. Other automakers have scaled back forecasts, citing rising costs and geopolitical instability, including new U.S. tariffs that could raise vehicle production costs by 8 percent to 15 percent.
Lucid has produced 6,075 vehicles and delivered 6,418 vehicles during the six months ended June 30, 2025.
Lucid is banking on the market success of its newly launched Gravity SUV and an upcoming mid-size EV priced around $50,000 to expand its customer base. The EV segment continues to face turbulence, with Tesla reporting a 13.5 percent decline in Q2 deliveries, underscoring slowing momentum across the premium EV market.
Price trends
In 2024 and 2025, Lucid Motors implemented a series of price adjustments to boost demand and manage inventory for its electric vehicles, particularly the Air sedan. In mid-2024, the company introduced aggressive incentives, with cumulative discounts reaching up to $21,500 on the Air Pure, $26,500 on the Touring, and $31,500 on the Grand Touring.
By mid-2025, Lucid maintained these discounted base prices, keeping the Air Pure around $69,900, Touring at $78,900, and Grand Touring at $110,900 before incentives. These reductions were achieved through a combination of Air Credits, federal tax incentives, loyalty bonuses, and conquest offers, and remained in place through the first half of 2025.
Leasing offers were also made more attractive, starting from $549 per month for the Pure and going up to $889 per month for the Grand Touring.
In June 2025, Lucid made modest list price adjustments across its 2025 Air inventory, including a uniform $75 reduction on all in-stock units.
Additionally, the company raised the MSRP of some Pure models by $5,000 while trimming $2,000 to $3,000 off select Grand Touring variants. These targeted changes reflect Lucid’s ongoing strategy to balance competitiveness with profitability as it navigates a challenging EV market.
Baburajan Kizhakedath