EV maker Lucid misses second-quarter delivery estimates on soft demand

Lucid missed Wall Street expectations for second-quarter deliveries connected Wednesday, deed by softer request for its luxury electrical vehicles arsenic consumers grapple with economical uncertainty and higher costs.

The institution delivered 3,309 vehicles successful the quarter, compared with estimates of 3,611 vehicles, according to 7 analysts polled by Visible Alpha.

Demand for Lucid's pricier luxury EVs person been softer arsenic consumers, pressured by precocious involvement rates, displacement towards cheaper hybrid and gasoline-powered cars.

U.S. President Donald Trump's tariff argumentation has led to a emergence successful conveyance prices arsenic manufacturers conflict with precocious worldly costs, forcing them to reorganize proviso chains and nutrient domestically.

Lucid's interim CEO Marc Winterhoff had said successful May that the institution was expecting a emergence of 8% to 15% successful wide costs owed to caller tariffs.