Lucid (LCID) shares Q1 2024 numbers Deliveries and revenue are up year-over-year

Lucid Motors Q1 2024 Financial Results Lucid Motors has reported its Q1 2024 financial results, showing an increase in deliveries and revenue compared to the previous year.

The company delivered a record 1,967 vehicles in the first three months of the year, up 13% from the previous quarter.

Despite a decrease in production of the Air sedan, with only 1,727 BEVs produced in Q1 2024, the company's revenue for the quarter was $172.7 million, up from $149.4 million in Q1 2023.

The CEO and CTO, Peter Rawlinson, expressed confidence in the company's future, highlighting the upcoming launch of the Gravity SUV and the potential of a third model to compete with industry leaders.

With a focus on cost optimization and significant growth, Lucid Motors is poised to make a mark in the EV market.