Lucid receives 30,000 reservation orders for ‘Air Sedan’ vehicle, price hike expected

Lucid Group said it received more than 30,000 reservation orders for its Air Sedan vehicles, but customers who make reservations after June 1 will have to pay a higher price.

The electric luxury vehicle maker added that it will implement the reservations for the current customers at the announced prices, as well as the new customers who make reservations before the end of May.

After that, the pricing on the various Air models will increase by about 10-12%.

Lucid incurred a loss of $81.3 million in the first quarter of 2022, compared to $2.9 billion a year earlier.

The company recorded revenues of $57.6 million in Q1 2022, up from $313,000 in the year-earlier period.

Lucid delivered 360 vehicles in the three-month period, while its reservations exceeded 30,000 vehicles, with potential sales of $2.9 billion.

The firm expects its production to range between 12,000 to 14,000 vehicles in 2022, after downgrading its forecasts from 20,000 vehicles in February.