Lucid Motors is aiming to meet the lower end of its revised production target of 18,000 electric vehicles in 2025, with interim CEO Marc Winterhoff saying the company is “on a good track” as manufacturing accelerates into the final quarter of the year.
Lucid cut its original 2025 production guidance from 20,000 units to a range of 18,000–20,000 after its second-quarter earnings report in August, citing a “continuously changing market environment” and external pressures affecting demand. Speaking on Bloomberg TV, Winterhoff said, “We’re doing everything we can in order to get there,” adding that the company expects to deliver its first Gravity SUVs in Europe early in 2026.
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Winterhoff acknowledged that the expiration of the $7,500 U.S. federal EV tax credit in September has dampened demand, noting that buyers rushed to purchase vehicles before the incentive ended. “We are still working through our backlog, so we are a little bit insulated,” he said. “But definitely, there is a slowdown, there’s no question about it.”
Lucid’s CFO, Taoufiq Boussaid, recently told investors at the UBS Global Industrials and Transportation Conference that the company is seeing “a constant and very pleasing improvement in terms of market share,” with increasing foot traffic and test drives. “Q4 might be a good quarter for us,” he said.
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Through the third quarter, Lucid has produced 9,966 vehicles at its Casa Grande, Arizona plant, meaning more than 8,000 additional units must be built in the fourth quarter to reach 18,000. The company has added a second production shift, with the new Gravity SUV expected to drive the bulk of output and deliveries in Q4.
Despite operational progress, Lucid’s stock has fallen more than 55% in 2025, trading near an all-time low of $13.22. By comparison, Rivian shares are up more than 37% this year, while Tesla has risen around 17%.