Lucid Group announced on Monday that its second-quarter deliveries exceeded market expectations, thanks to price reductions that spurred demand for its luxury electric sedans. The growth in demand for electric vehicles has lagged behind predictions over the past year, impacted by high borrowing costs, economic uncertainties, and a consumer shift towards hybrid alternatives. In response, EV market leader Tesla and other companies, including Lucid, have cut prices and offered incentives like cheaper financing options to attract buyers. Lucid, whose shares climbed about 4% on Monday, reduced the prices of its flagship Air sedans by up to 10% in February. The company produced 3,838 vehicles in the first half of 2024 and needs to manufacture more than 5,162 cars by year-end to meet its annual production target of 9,000 units. In 2023, Lucid produced 8,428 vehicles. "I think at this point, everything is shaping for them to achieve that guidance," said Andres Sheppard, senior equity analyst at Cantor Fitzgerald. Sheppard noted that Lucid will produce and deliver more cars in the second half of the year, aligning with seasonal trends in the automotive industry. Lucid delivered 2,394 vehicles in the quarter ending June 30, surpassing the estimated 1,940 units, according to eight analysts polled by Visible Alpha. Rivian Automotive also reported strong second-quarter deliveries last week, while Tesla experienced a smaller-than-expected decline. Lucid, in which Saudi Arabia's Public Investment Fund holds a 60% stake, stated in May that it anticipates capital expenditures of $1.5 billion in 2024, up from $910.6 million last year, as it prepares to start manufacturing its Gravity SUV. The Gravity SUV, priced around $80,000, is scheduled to enter production later this year and will compete with Tesla's Model X. Lucid's Air sedan competes with Tesla's popular Model S. Lucid is set to report its quarterly results on August 5. https://github.com/HsnFlixFrm/Hsn/issues/30 https://github.com/HsnFlixFrm/Hsn/issues/31 https://a.purplepass.com/events/294944-dervsdcaxsa-jul-8th-2024 https://a.purplepass.com/events/294953-enherdsaxca-jul-8th-2024 https://www.artstation.com/furiosa-a-mad-max-saga-hd-thai-sub/profile https://www.artstation.com/my-boo-movie-hd-thai-sub/profile https://billetto.co.uk/users/furiosa-a-mad-max-saga--93d99f13-8e04-4134-8387-5f7f9783c02a/details https://billetto.co.uk/users/my-boo/details https://tinhte.vn/profile/duhnang-furiosa-a-mad-max-saga-etmerongfrue.3030448 https://tinhte.vn/profile/duhnang-onngkh-my-boo-etmerongfrue.3030455 https://pastelink.net/ne6zxqkx https://www.bitsdujour.com/profiles/jjOuLR