April 3 (Reuters) - Lucid Group missed expectations for first-quarter vehicle deliveries on Friday, fanning concerns about weakening demand for its luxury sedans amid a broader electric-vehicle market
slowdown.
The shortfall highlights the persistent gap between the company's production and its ability to get cars into customer hands, a challenge that has plagued Lucid and other EV startups.
Supply challenges continue to be a concern, Lucid CEO Marc Winterhoff has said, acknowledging that the company was being conservative with its forecast of producing 25,000 to 27,000 vehicles this year, implying growth could top 50%. On Friday, it maintained that forecast range.
In 2025, production nearly doubled to 17,840 vehicles.
Along with a hit from high tariffs imposed on auto parts imports, Lucid, like some of its rivals, has been combating a chip shortage, uncertain supplies of rare earths and a fire in September at an aluminum supplier.
It said deliveries of its electric luxury SUV Lucid Gravity were disrupted for 29 days during the quarter due to a supplier quality issue with second‑row seats, limiting the company’s ability to meet customer demand.
The company said it produced 5,500 vehicles and delivered 3,093 in the quarter ended March 31. Analysts at Visible Alpha had expected Lucid to produce 5,967 vehicles and deliver 5,237 vehicles.
(Reporting by Juby Babu in Mexico City and Savyata Mishra; Editing by Bill Berkrot and Mark Porter)
