Lucid Q3 deliveries rise 47% but miss forecast

One of Lucid cars

Luxury EV maker Lucid Group saw a sharp rise in deliveries during the third quarter of 2025, driven by increased demand ahead of the expiration of US tax credits. However, the figures still came in below market expectations.

The company said in a statement on Oct. 6 that it delivered 4,078 vehicles between June and September, marking a 46.6% increase from the 2,781 units delivered during the same period in 2024.

That compares to the average analyst estimate of 4,286 vehicles, according to a Reuters survey.

Lucid Group produced 3,891 vehicles in the third quarter of 2025, in addition to over 1,000 units designated for final assembly in Saudi Arabia, according to the company’s statement.

Over the first nine months of the year, Lucid produced 9,966 vehicles, excluding those shipped to Saudi Arabia, and delivered 10,496 units.

The update comes after Lucid lowered its full-year production guidance in August to a range of 18,000 to 20,000 vehicles. This compares with the average estimate of around 17,800 units from five analysts surveyed by Visible Alpha.