Lucid Group Misses Q2 Delivery Target Amid Leadership Overhaul

Lucid Group reported 3,953 vehicle deliveries and 4,774 units produced in the second quarter, falling short of analysts' expectations of 4,618 deliveries and 5,280 productions. The shortfall follows a series of disruptions, including a February recall of Gravity SUVs for seat‑belt anchor defects and a separate Air sedan recall, which led to a 29‑day delivery halt.

The company announced a sweeping executive reshuffle: Alexander De Bock was appointed chief financial officer, replacing Taoufiq Boussaid; Raja Ramana Macha became chief technology officer; and chief operating officer Marc Winterhoff, who had served as interim CEO, left the firm. Silvio Napoli, hired as CEO in April, is overseeing the changes. Lucid has also cut its U.S. workforce by 18%, saving about $158 million annually, and is reviewing its 2026 production forecast while streamlining its supply chain.