In the third quarter of this year, Lucid Motors produced just 2,954 electric vehicles, experiencing a 54% drop from the same period last year. This marks the company’s lowest quarterly output in almost two years, following a trend of declining production over the past three quarters.

Lucid's new CEO, Silvio Napoli, has been implementing cost-cutting measures, including layoffs and factory adjustments, aiming to streamline operations. However, the company has struggled to match demand, delivering only 3,806 vehicles in the third quarter, roughly matching the previous quarter’s numbers but falling short of the third quarter of 2025 by about 200 vehicles.

Despite the challenges, Napoli remains optimistic about Lucid's future, with the upcoming release of the Cosmos model, expected to be more affordable and potentially broaden the company's market reach. However, he warns against rushing the product to market, citing past mistakes as a cautionary tale.

Meanwhile, rival Rivian has seen a significant surge in production, delivering nearly 20,000 vehicles in the third quarter, marking its best quarter in history. This contrast highlights the competitive landscape in the electric vehicle market and the hurdles Lucid must overcome.

Lucid's journey from promised 90,000 EVs in 2024 to the current challenges reflects the complexities of entering a highly competitive and rapidly evolving industry. As the market continues to evolve, only time will tell if Lucid can turn its fortunes around.