Lucid began 2022 with a setback by reducing its annual production forecast from 20,000 units to 14,000, and then further to 6,000 to 7,000 units. Despite initial challenges, the company ended the year on a positive note.
In a recent press release, Lucid announced that it had boosted production by 53% in the fourth quarter, compared to the previous quarter, with 3,493 vehicles produced at its facility in Casa Grande, Arizona.
Lucid’s 2022 production ended at 7,180 vehicles, slightly exceeding their revised target of 6,000 to 7,000 units. However, this number is still far below the factory’s capacity of 34,000 vehicles per year. Despite the production increase, Lucid is still facing challenges in delivering vehicles to customers.
In Q4, only 1,932 Air sedans were delivered, representing 55% of the vehicles produced during that period. This trend of production outpacing delivery has been seen throughout 2022.
In 2022, Lucid manufactured 7,180 vehicles, but only delivered 4,369 (60%) of them throughout the year, resulting in an inventory of 2,811 cars at the end of the year. More details will be available when Lucid releases its financial results on February 22, 2023. At that time, the company is expected to announce its 2023 production forecast, which, based on their Q4 performance, should be higher than 7,000 vehicles.
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