Delivery interruption! U.S. new car manufacturers' sales decline

On April 5th, the new American car force Lucid announced its first-quarter sales data. The data shows: Lucid sold 3,093 vehicles in the first quarter, a 42% decrease quarter-on-quarter and a 0.5% decrease year-on-year. Regarding the decline in sales, the company stated that it was mainly due to a 29-day interruption in the delivery of the Lucid Gravity model caused by a defect in the vehicle seats.

It is understood that previously, due to safety belt anchoring welding not meeting safety standards, Lucid announced a recall of the Gravity SUV models produced between December 2024 and February 2026, totaling 4,476 vehicles. Regarding this recall issue, Lucid officials said the problem has been resolved and expressed confidence that this supply chain disruption will not affect their production targets. According to official plans, this year’s annual production is expected to be between 25,000 and 27,000 vehicles.

Data shows that Lucid was founded in 2007, originally as Atieva Battery Technology Company, co-founded by former Tesla Vice President and Director Xie Jiapeng and former Oracle executive Wen Shiming. Initially, the company focused on research and development of battery, electronic control, and electric drive technology, positioning itself as a core system provider for new energy vehicles. Lucid’s product positioning is also high-end luxury electric vehicles. Its first mass-produced model, Lucid Air Pure, was launched in September 2020, with a starting price of $87.4k. Its main competitors include Tesla Model S, Audi, BMW, and Mercedes-Benz. In July 2021, Lucid was listed on NASDAQ in the United States, with its stock price rising 10.64% on the first day, closing at $26.83 per share, with a total market value exceeding $40 billion.

Currently, Lucid has launched two models: Lucid Air and Lucid Gravity. The Lucid Air is a luxury pure electric sedan, while the Lucid Gravity is a pure electric SUV. Data shows that last year, Lucid delivered 15,841 new vehicles, a 55% increase year-on-year. It is worth noting that although Lucid’s sales grew last year, it still did not escape the loss situation. Last year, Lucid’s revenue was $87.4k, with an operating loss of $3.5 billion and a net loss of $2.7 billion. As of December 31, 2025, Lucid’s total assets were $1.35B, and liabilities were $8.39B.

Regarding last year’s financial report, the company previously stated, “The focus for 2025 is on execution and strategic adjustments to achieve long-term success for Lucid. Amid a challenging macro environment, we nearly doubled production, gained market share, reduced unit costs, and strengthened our financial position.”

According to official plans, this year Lucid will launch three mid-sized electric vehicles with a starting price of around $50k. The first model, “Cosmos,” is expected to be unveiled within this year. The company revealed that the new vehicle will be based on a new “Midsize” platform, centered around its Atlas electric drive unit, which features a smaller, lighter, and more streamlined design, improving production scale and cost efficiency. Overall, the new model aims to achieve a longer range with a smaller battery pack, fewer parts, higher integration, and simplified exterior decoration. Lucid disclosed that the new vehicle will be priced around $50k and may later compete with models like Tesla Model Y and Model 3.