Lucid shares gain on record-breaking vehicle deliveries in Q2
Story Highlights
- Lucid Group’s shares rose 5.3% after record Q2 deliveries
- Lucid delivered 3,309 vehicles, up 38% from last year
- Lucid expands in Arizona with new facilities from Nikola
Shares of California-based Lucid Group Inc. rose more than 5% on Thursday to close out the shortened holiday week after the electric vehicle maker reported a record number of deliveries in the second quarter.
Lucid (Nasdaq: LCID), which manufactures its Lucid Air sedans and Gravity SUVs in Casa Grande, said it produced 3,863 electric vehicles during the second quarter and delivered 3,309 during the three months ending June 30.
It marks Lucid’s highest quarterly delivery number to date and is a 38% increase over the company’s 2,394 vehicle deliveries in the prior year quarter.
Despite an uptick in electric vehicle sales, Lucid’s quarterly delivery numbers missed Wall Street expectations of 3,611 cars in Q2, according to seven analysts polled by Visible Alpha.
Lucid shares, however, rose 5.3% in response to the company’s strong vehicle deliveries in Q2, closing at $2.16 a share on Thursday.
During the first half of the year, Lucid’s deliveries totaled 6,418, up almost 50% from a year earlier. For comparison, Lucid competitor Rivian Automotive delivered 19,301 vehicles in the first half of 2025, down 30% from the prior year.
Tesla, meanwhile, delivered 384,122 cars in the second quarter, down 13.5% from the 444,000 cars delivered a year earlier, Barron’s reported.
After Lucid released its Q2 delivery numbers, Cantor Fitzgerald analyst Andres Sheppard reiterated the firm’s neutral rating on the company’s stock with a price target of $3 a share, according to media reports.
He pointed to risks affecting Lucid’s outlook, including high negative gross margins and a broader slowdown in electric vehicle demand, among other things.
Stifel reiterated a hold rating and a $3 price target on Lucid’s stock, stating the company appears to be better positioned than legacy automakers to handle potential tariff headwinds because of its domestic manufacturing footprint.
Lucid’s strong Q2 deliveries amid Arizona expansion
Lucid’s strong vehicle deliveries during the second quarter come amid the company’s expansion in Arizona.
Just last month, Lucid celebrated the grand opening of its new Phoenix hub facility and Coolidge manufacturing plant after acquiring both sites from Nikola Corp. in a bankruptcy auction.
The two sites add more than 884,000 square feet to Lucid’s manufacturing, product development and warehousing footprint in Arizona.
Lucid’s Phoenix hub facility will house a research and development center, while its Coolidge plant will be used for warehousing, pre-delivery inspections and include a pilot line for the company’s midsize SUV, which is in development, Lucid CEO Mark Winterhoff told the Business Journal in a June interview.
Lucid’s midsize SUVs are slated to debut in 2026 with a price tag of $50,000, rivaling Tesla’s Model Y and Rivian’s R2, according to media reports. Lucid started producing its full-size Gravity SUV at its Arizona factory last year, with customer orders for the modified Grand Touring version starting last November.
Winterhoff said in June the company is continuing discussions with other automakers looking to leverage Lucid’s Casa Grande plant amid tariff uncertainty and efforts to onshore auto manufacturing.