Lucid’s Production Hits All-Time High, Yet Tesla and Rivian Keep Pulling Ahead

Lucid Motors produced nearly 10,000 vehicles in the first nine months of the year, its highest output yet, but analysts have maintained that the company still underdelivered compared to expectations.

The EV maker’s third-quarter production hit 3,891 units, missing Bloomberg’s 5,621-unit forecast despite improving deliveries and ramping up operations for its new Gravity SUV.

Growth continues, but production pace trails rivals

Lucid delivered 4,078 vehicles in Q3, a notable increase from 2,781 a year ago. Year-to-date, the automaker has produced 9,966 vehicles and delivered 10,496, surpassing its entire 2024 total of 10,241. Yet analysts say that scale remains far too small to sustain long-term profitability. For perspective, Tesla sells roughly that many cars every four days in the U.S., while Rivian continues to comfortably outpace Lucid’s output, according to Carscoops.

Adding to the mix, Lucid has built 1,000 additional vehicles awaiting final assembly in Saudi Arabia. But even with overseas production plans underway, the company faces mounting financial pressures following the end of the $7,500 federal EV tax credit, which had previously bolstered lease affordability.

Gravity SUV could be Lucid’s turning point

The introduction of the Gravity SUV marks Lucid’s move beyond its single-model lineup. Early deliveries have begun, and the company expects the SUV to become its top seller by year-end. Looking ahead, Lucid plans to launch a mid-size electric SUV priced under $50,000 next year, a bold attempt to compete in the high-volume EV market dominated by mainstream brands.

That model is expected to be built across Lucid’s vehicle production facilities, including its Saudi Arabia site, provided additional funding comes through. Despite current headwinds, Lucid’s leadership hopes its diversified lineup and global production strategy will help the company close the gap with larger competitors in 2025.

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