Lucid Motors reported 3,806 vehicle deliveries for the third quarter of 2026, marking a 7% decline compared to the same period last year. The company produced 2,954 vehicles during the quarter, which represents a 38% decrease from the previous quarter and the lowest production volume since early 2025.
CEO Silvio Napoli is currently focused on reducing inventory levels accumulated during the first half of 2026. This strategy marks the first quarter where the company delivered more vehicles than it manufactured. Lucid aims to achieve $1.4 billion in cash flow improvements throughout 2026, with $600 million to $800 million expected from inventory reduction.
The company previously cut its annual production target and eliminated the second shift at its Casa Grande facility in June, resulting in an 18% staff reduction. Over the first nine months of 2026, Lucid has built 13,228 vehicles and delivered 10,852. The automaker plans to rely on its Air and Gravity models until at least the second half of 2027.
Financial targets for the year include $500 million in reduced capital spending and $200 million in lower operating costs. As of the end of June, the company held $1.38 billion in inventory. Lucid noted that demand for the Gravity model is regaining momentum, though specific delivery figures by model were not disclosed.
