Lucid Continues To Struggle Mightily

Summary:

  • Lucid’s Q3 revenues of $137.8 million were down almost 30% year over year, badly missing street estimates.
  • The company’s cost structure is a major problem, with dramatically negative gross margin dollars and large operating losses.
  • Lucid cut its 2023 Air sedan production forecast as it continues to struggle in the luxury EV market.

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After the bell on Tuesday, we received third-quarter results from Lucid Group (NASDAQ:LCID). The electric vehicle maker has been one of the most disappointing in the space over the past few years, as it has


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