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Lucid Group (NASDAQ: LCID) has reported six consecutive quarters of record deliveries, with Q2 2025 showing 3,309 vehicles delivered, a 38% year-over-year increase. Despite this momentum, the company revised its 2025 production outlook from 20,000 vehicles to 18,000 due to unfavorable market conditions, including the recent rollback of electric vehicle (EV) incentives by the Trump administration that took effect on September 30, 2025.
Lucid’s interim CEO, Marc Winterhoff, indicated an increase in Tesla customers switching to Lucid, particularly in Europe and the U.S. This shift is attributed to a lack of updates for Tesla’s Model S and Model X, while Lucid continues to accelerate production of its Gravity SUV.
Despite the positive delivery figures, there are concerns about Lucid’s financial health, as the company is still burning cash and may need to raise capital again soon to reach profitability.
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