Lucid Group cuts Q3 production by 38% amid operational reset

Lucid Group reported a significant decline in production for the third quarter, building 2,954 electric vehicles. This represents a 38% decrease from the previous quarter and a 54% drop compared to the same period last year, marking the company’s lowest quarterly output since early 2025.

Vehicle deliveries for the quarter totaled 3,806, a 7% decrease from the third quarter of 2025. Under the leadership of new CEO Silvio Napoli, the company is implementing an “operating reset” aimed at achieving $1.4 billion in cash flow improvements. This strategy includes selling down existing inventory, streamlining leadership, and reducing staff by approximately 1,500 employees. To manage costs, Lucid also eliminated the second shift at its Casa Grande, Arizona, manufacturing plant.

The company has struggled to find sufficient demand for its luxury EV models. While Lucid has scaled back its production targets, rival EV manufacturer Rivian recently reported strong growth, shipping nearly 20,000 vehicles in the third quarter.