Lucid said on Tuesday it is maintaining its 2025 production forecast, even as global automakers contend with the prospect of higher tariffs and a slowdown in demand for fully electric vehicles.
The luxury electric vehicle maker reiterated plans to produce nearly 20,000 vehicles this year, in line with its previous guidance. Analysts polled by Visible Alpha expect output of around 18,370 units. The company’s stance contrasts with other automakers that are reassessing targets amid growing cost and supply chain concerns.
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Revenue for the first quarter ended March 31 came in at $235 million, missing analysts’ expectations of $248.9 million, according to LSEG data. Lucid posted an adjusted net loss of 20 cents per share, narrower than the 27-cent loss reported a year earlier, as it continued efforts to cut operational costs.
As part of its strategy to stimulate demand, Lucid reduced prices for its flagship Air sedan, which starts at roughly $70,000 in the U.S., and introduced incentives such as lower financing rates. The move comes as elevated interest rates and broader economic uncertainty have pushed many American consumers toward more affordable hybrid vehicles.
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To diversify its lineup and expand market reach, Lucid plans to introduce a new mid-size model next year targeting a $50,000 price point. The company is also ramping up deliveries of its recently launched Gravity SUV, which is seen as key to its longer-term growth.
Lucid’s operations may face pressure from import tariffs on vehicle parts introduced under former President Donald Trump. Although the company manufactures its vehicles domestically, many components are sourced from abroad. Recent policy adjustments have aimed to ease some of the burden on automakers, but uncertainty remains.
While several competitors, including Tesla, have cited tariffs as a factor in reviewing annual targets, Lucid continues to pursue its production and expansion plans amid an evolving market landscape.
