Lucid sees lower Q1 deliveries and revenue miss, shares fall after hours

Wed, 06 May 2026 12:49:00 +0200

Lucid Group’s shares declined in after‑hours trading on May 5, 2026, after the electric‑vehicle maker reported weaker first‑quarter sales and a larger‑than‑expected loss. The company said revenue for the period came in at about 282 million dollars, below Wall Street’s forecast of roughly 440 million, reflecting a 36% miss. Lucid attributed the shortfall to a supplier‑related quality issue that disrupted deliveries of its Gravity SUV in February, temporarily holding back shipments despite having produced around 5,500 vehicles in the quarter. Delivery volumes fell to 3,093 units of the Air sedan and sport‑utility models, down sharply from 5,345 vehicles in the previous quarter. The problem has since been resolved, with March sales rebounding and rising about 14% year‑over‑year. The stock has already lost around 41% of its value so far in 2026, underscoring investor concerns about the company’s profitability, execution, and the competitive pressures facing premium EV makers. Lucid continu