Lucid Motors Cuts Its Forecast for 2026

Lucid Motors has withdrawn its annual production forecast as a result of problems that have arisen with one of its suppliers, which has also had a direct impact on the number of deliveries completed so far and, therefore, on first-quarter 2026 revenue. The American electric vehicle company expects to publish an updated outlook for the rest of the year this coming summer, while it works to stabilise its supply chain and production pace.

The truth is that first-quarter results were clearly below expectations. Although production and revenue grew compared with the same period last year, they fell short of both the company’s internal targets and analysts’ estimates. The company attributes this situation to the aforementioned problem with one of its suppliers, which was responsible for supplying the seats for the Lucid Gravity.

Between January and March of this year 2026, 5,500 vehicles left the Lucid Motors plant in Casa Grande (Arizona). This is 149 per cent more than in the first quarter of 2025. However, deliveries stalled at 3,093 units, practically the same volume as a year earlier. According to the company, the issue with the Lucid Gravity seats has now been resolved and the situation is stabilising. In fact, deliveries rose 14 per cent year on year in March, and orders in North America recorded a strong rebound of 144 per cent compared with February, reflecting growing customer interest in the brand’s vehicles.

Some additional data on the financial situation of Lucid Motors

Lucid Motors’ revenue during the first quarter of the year reached $282.5 million, up 20 per cent on the same period of the previous year, although well below the $440 million expected by the market. The net loss widened to $1,130 million, compared with $731 million in the first quarter of 2025. Following the release of these figures, Lucid Motors shares fell by as much as 8 per cent on the stock market.

The company had announced a planned production volume of between 25,000 and 27,000 vehicles over the course of 2026, but has decided to suspend that forecast until it reassesses the situation. Despite the setbacks, Lucid Motors says it has managed to significantly strengthen its financial position, closing the quarter with more than $1 billion in new capital, mainly from its main shareholder, Ayar Third Investment – a subsidiary of the Saudi sovereign fund PIF – and from a strategic alliance with Uber. The ride-sharing platform has committed to acquiring at least 35,000 robotaxis based on the Lucid Gravity and on the brand’s future mid-range platform.