Lucid Cuts 2026 Output to 25–27k Units, Q4 Loss Widens to $3.08 EPS
Lucid Group cut its 2026 production target to 25,000–27,000 vehicles, down from analysts’ 33,000-unit forecast, and reduced its 2025 output to 17,840 after omitting over 500 units from final validation. The EV maker reported a Q4 adjusted loss of $3.08 per share, slashed 12% of its workforce, and saw shares slide over 5%.
1. Production Guidance Revision
Lucid scaled back its 2026 assembly plan to 25,000–27,000 vehicles, significantly below the roughly 33,000 units analysts projected, and lowered its full-year 2025 tally to 17,840 after shifting over 500 vehicles into next year’s validation process. The move reflects lingering supply-chain constraints and weaker U.S. EV demand.
2. Q4 Financial Results
In the fourth quarter, Lucid delivered 5,345 vehicles and generated $522.7 million in revenue, up 123% year-on-year, but reported an adjusted loss of $3.08 per share versus a $2.68 per-share consensus. The disappointing earnings and EPS miss drove a more than 5% drop in the stock during after-hours trading.
3. Cost-Cutting Measures
To bolster its path to profitability, Lucid announced a 12% reduction in headcount, targeting operating expenses amid slower deliveries. The cuts aim to align production with sales trends and improve unit economics as it ramps newer models like the Gravity SUV.