Lucid Deliveries Outpace Production Amid Inventory-Reduction Plan
Dow Jones05:16
Lucid Group's vehicle deliveries exceeded production again in the latest quarter, as the auto company aims to reduce inventory.
Lucid produced 2,954 vehicles and delivered 3,806 vehicles in the third quarter, which ended Sept. 30.
Third-quarter production and deliveries were both down sequentially from 4,774 vehicles produced and 3,953 vehicles delivered in the second quarter.
Lucid is in the process of converting existing vehicle inventory into deliveries as part of a reset plan targeting $1.4 billion of cash-flow improvements in 2026.
The auto company laid out the plan in August, alongside plans to simplify its organizational structure and halve the number of people who report to the chief executive.
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